Appealing Property Taxes After Buying a Home in Cook County

Buying a home in Cook County is exciting, but many new homeowners are caught off guard when their first property tax bill arrives. Even if you purchased your home at a fair market price, your assessed value (the number the Cook County Assessor uses to calculate taxes) may be higher than you expected. Understanding the difference between what you paid and what the County says your home is worth is important, and knowing when and how to appeal can save you hundreds or even thousands of dollars.

At Aaron Fox Law, we help new homeowners navigate assessments and make sure their taxes reflect the true value of their property.

Why Your Purchase Price and Assessed Value Don’t Always Match

When you buy a home, the price you pay reflects negotiations, timing, and current market conditions. The Assessor, however, determines assessed value using sales data, neighborhood comparisons, and property characteristics. According to the Cook County Assessor’s office, “A home’s recent purchase price is sometimes, but not always, a reflection of its true market value.”

This means that even if you just paid $350,000 for a home, the Assessor might value it at $400,000 for tax purposes. This happens more often than you might think, especially in areas where home values are changing quickly. The good news? A higher assessed value doesn’t mean you’re stuck with it. You have the right to appeal.

When New Homeowners Should Consider an Appeal

The Cook County Assessor encourages you to file an appeal if the estimated market value of your home is significantly more than what you believe your home could sell for in the current real estate market. The Board of Review also notes that if you purchased your home in the past three years in an arm’s length transaction for less than the current market value the Assessor assigned, you can use your closing documents as evidence to support a reduction.

Look for these warning signs:

• Your assessment is higher than neighboring properties with similar size, age, and condition
• The Assessor included upgrades or features your home doesn’t actually have
• The assessed value is higher than what similar homes are selling for in your area
• You bought your home for significantly less than the assessed value

Even newly purchased homes can be successfully appealed, as long as you can provide solid supporting evidence.

Common Mistakes New Homeowners Make

Many first-time buyers lose out on savings because of simple errors. Here are mistakes to avoid:

Assuming your purchase price automatically sets your assessed value: The Assessor uses the same methods to estimate market values for all properties to be fair to those that have sold recently and those that haven’t. You may need to bring your purchase information to their attention through an appeal.

Missing appeal deadlines: Each township has its own schedule, and if you’re new to the area, these dates can be easy to miss. Mark your calendar as soon as you receive your assessment notice.

Not providing enough evidence: Appeals need credible documentation. You’ll need actual sales data from comparable properties, photographs, and potentially closing documents or a USPAP compliant professional appraisal.

Filing with incomplete information: Appeals that don’t follow the Official Appeal Rules or lack proper documentation may not receive the reduction you deserve.

Avoiding these mistakes significantly increases your chances of success.

Why an Appeal Can Make a Real Difference

A successful appeal lowers your assessed value, which directly reduces your property taxes. For new homeowners, this can make a significant financial difference, especially in your first few years of ownership.

You can also combine an appeal with applicable exemptions. Most homeowners qualify for the Homeowner Exemption, which reduces your home’s EAV by $10,000. When you stack that with a successful appeal, your savings multiply.

The Value of Professional Help

You can file an appeal on your own, however, the process involves specific documentation requirements, strict deadlines, and technical rules.

A property tax attorney can:

• Review your assessment notice for errors and overvaluation
• Collect and organize evidence that meets Assessor standards
• Prepare appeals that comply with the Official Appeal Rules
• File on time during your township’s open period
• Represent you at the Board of Review if needed

At Aaron Fox Law, we can help new homeowners reduce property taxes while staying fully compliant with Cook County regulations.

Take Action Now

If you recently purchased a home in Cook County, don’t wait until your next tax bill arrives to review your assessment. The sooner you compare your assessed value to your purchase price and recent neighborhood sales, the sooner you can identify potential savings.

Check your assessment notice carefully, gather your closing documents and information about comparable home sales, and consider filing an appeal if your home appears overvalued.

Contact Aaron Fox Law today for a free strategy session. We’ll help you understand whether an appeal makes sense for your situation and guide you through the process. Protecting your budget starts with making sure you pay only your fair share.