Equalization Factors In Illinois Uncovered: What Property Owners Need to Know

Episode Summary:

In this informative episode, host Abigail Vaca and property tax attorney Nora Devine dive deep into the complex world of equalization factors in Illinois property tax. Nora explains how these factors work differently in Cook County versus other counties, their impact on property owners, and the relationship between equalization factors and school funding. The episode provides valuable insights for property owners about assessment practices, appeals processes, and common misconceptions about property tax calculations.

 

Key Timestamps:

00:00 - Introduction

00:40 - Understanding equalization factors outside Cook County

03:19 - How equalization factors are determined

05:20 - Different approaches to equalization by township assessors

07:19 - Fairness in applying equalization factors

09:45 - Legal options for property owners

11:21 - Cook County's unique classification system

14:55 - Common misconceptions about equalization factors

 

About the Show:

Devine Intervention features Nora Devine, a property tax attorney with private practice experience since 2005. She has developed a statewide practice in all jurisdictions in Illinois and represents all property classes. The show aims to shed light on complex property tax matters in Illinois.