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Land owners in Montgomery County, Illinois, are struggling with a dramatic rise in property taxes after re -evaluating their bills.
Brande Lingz 5 told you that it paid $ 756 of property taxes last year over 96 acres of forests in Montgomery County. Next year, it has an affirmation that its property tax bill will be more than $ 10,000 – a shocking increase of 1,222 % – it is not alone.
“People will lose their property,” said Meghan Biller, former Monteghens Finance Chairman Meghan Biller, former Montgomery Financial Chairman in her interview with 5 next to you. “When you look at a 1500 % increase, an increase of 3000 % on property, we will not have the ability to keep taxes and pay them.”
The increase in property taxes from the 2007 state law, which requires imposing taxes on forest spaces such as homes, according to the scale of Montgomery County Kindra Niehaus. Until this year, the law has not been properly implemented in Montgomery. As a result, taxes on Woodland are now imposed by 33.33 % of their market value.
Real estate owners can challenge the evaluation through the review council, although the decision may be difficult due to the lack of residents in the town. The Montgomery County Commissioners Council recently held a special session to address these concerns.
What can real estate owners do? They should start reviewing their evaluation details of accuracy. They can also compare modern sales of similar property in their region to see if the evaluation is compatible with market trends. Collecting documents to support the excessive value claim can help build an appeal case.
Once the appeal is submitted, the owners may be scheduled for a listening session to present their case. Therefore, it is important to prepare a good organized argument supported by evidence and be aware of the final dates. The presence of a strong emergency box can also help home owners to move in large tax bills without risking the loss of their property.
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The post This Illinois woman’s property tax is poised to jump from $756 to over $10,000 — a shocking 1,222% spike first appeared on Investorempires.com.
