Condominium / Townhome / Cooperative Boards

Frequently Asked Questions
 

During more than twenty years in practice, Worsek & Vihon has helped thousands of condominium, cooperative apartment and townhome associations evaluate and appeal their property tax assessments. From downtown high rises to suburban complexes, experience has taught us that clients have many questions before even beginning the process.

Here are some FAQs that will help you determine your next steps.

Should our association consider challenging the real estate tax assessments on behalf of the entire association?

Yes, definitely. A board is authorized by the Condominium Property Act to approve an assessment appeal on behalf of all owners. In fact, a single complaint covering the entire association is almost always more effective than individual appeals.

Since there are no expenses in determining whether owners are eligible for tax savings, it is financially responsible to make sure the foundation for your property assessment is sound.


When should the board start investigating the possibility of filing an appeal?

Every time the property is subject to reassessment or when a condominium declaration or amendment is recorded. In Cook County, properties are reassessed every three years.


How do we get started?

Call our office with the property index number found on your tax bill or assessment notice. In most cases, we can begin an analysis with just that information. In the case of new construction, a list of initial purchase dates and purchase prices may be necessary.


What does it cost?

Worsek & Vihon provides complimentary tax analyses. No fee is charged if the property is deemed to be fairly assessed. If an appeal is recommended, a contingent fee based on a percentage of tax savings is charged—and only after a successful appeal.


What is the process?

If an assessment challenge is warranted, an authorization and agreement form will be sent for signature to a board officer or property manager. Worsek & Vihon will then compile supporting evidence, file an appeal and present the case before assessing officials.

Typically, a condominium appeal will require a complaint to be filed at the Assessor’s Office and Board of Review. The result of the appeal will be reported back to the board at each stage of the process. In the event of a successful appeal, we will identify the tax implications on a unit-by-unit basis, so each unit will be correctly billed its fair share.