The Illinois Property Summary Sheet is a document used by local governments in the state of Illinois to provide information about a particular property. It includes data such as the property's address, owner, zoning, assessed value, sales history, and other pertinent details. The summary sheet is used by local assessors, appraisers, and tax collectors to assess the value of a property and calculate any taxes due. There are two types of Illinois Property Summary Sheets: the Residential Property Summary Sheet and the Commercial Property Summary Sheet. The Residential Property Summary Sheet provides details about single-family homes, condos, and parcels of land, while the Commercial Property Summary Sheet provides information about multi-family homes, commercial buildings, and industrial properties.
Illinois Property Summary Sheet
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How to fill out Illinois Property Summary Sheet?
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FAQ
Cook County follows a triennial reassessment cycle, meaning that a property is reassessed once every three years.
In most counties, property taxes are paid in two installments, usually June 1 and September 1. If the tax bills are mailed late (after May 1), the first installment is due 30 days after the date on your tax bill. County boards may adopt an accelerated billing method by resolution or ordinance.
Property owners who need to pay real estate taxes by legal description must make a formal request with the Cook County Assessor's Office by filling out the Assessment by Legal Application (ABL).
For residential property owners, the assessed value equals 10% of the fair market value of the home. For most commercial property owners, the assessed value is 25% of the fair market value.
In Cook County, the first installment is due by March 1. (Elsewhere, a county board may set a due date as late as June 1.) The second installment is prepared and mailed around June 30 and is for the balance of taxes due.
Property tax bills are mailed twice a year. Your first-installment is due at the beginning of March. By law, the first-installment property tax bill is exactly 55% percent of the previous year's total tax amount.
If your property tax is paid through your mortgage, you can contact your lender for a copy of your bill. You may also get this number from your county assessor's office.
Where can I get a copy of my tax bill? You can obtain a duplicate tax bill from the Cook County Treasurer by requesting a copy online at Cook County Treasurer's Office or by visiting the main downtown office.