Illinois Request For assessment By Legal Description is a request filed with the county assessor that allows taxpayers to dispute the assessed value of their property. The taxpayer must provide a legal description of the property as well as supporting documentation to substantiate their claim. The county assessor will then review the request and determine the appropriate assessed value. There are two types of Illinois Request For assessment By Legal Description: (1) a Form PTAX-341, which is used to contest the assessed value of a single parcel; and (2) a Form PTAX-341A, which is used to contest the assessed value of multiple parcels.
Illinois Request For assessment By Legal Description
Instant download
This website is not affiliated with any governmental entity
Public form
Description
Request For assessment By Legal Description
How to fill out Illinois Request For Assessment By Legal Description?
If you’re seeking a method to effectively finalize the Illinois Request For Evaluation By Legal Description without employing a legal advisor, then you’re exactly where you need to be.
US Legal Forms has established itself as the most comprehensive and esteemed collection of official templates for every individual and business situation. Each document you find on our online platform is developed in accordance with federal and state laws, ensuring that your forms are accurate.
Another significant benefit of US Legal Forms is that you will never misplace the documents you purchased - you can access any of your downloaded templates in the My documents section of your profile whenever you need them.
- Ensure the document displayed on the page aligns with your legal needs and state laws by reviewing its text description or browsing through the Preview mode.
- Enter the form name in the Search tab at the top of the page and select your state from the dropdown list to locate an alternative template in case of any discrepancies.
- Repeat the content verification and click Buy now when you are confident that the paperwork meets all requisite standards.
- Log in to your account and click Download. Create an account with the service and select a subscription plan if you haven't already done so.
- Utilize your credit card or the PayPal option to acquire your US Legal Forms subscription. The document will be ready for download immediately afterward.
- Choose the format in which you want to save your Illinois Request For Evaluation By Legal Description and download it by clicking the designated button.
- Incorporate your template into an online editor to complete and sign it quickly or print it out to prepare your physical copy manually.
Form popularity
FAQ
After the assessor determines the Fair Market Value of your home, the Assessed Value of your home is calculated. 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.
Most senior homeowners are eligible for this exemption if they are 65 years of age or older (born in 1957 or prior) and own and occupy their property as their principal place of residence. Once this exemption is applied, the Assessor's Office automatically renews it for you each year.
The Assessor's Office updates its determination of each property's fair market value and corresponding assessed value once every three years.
Local assessing officials determine most property values; the local county board of review and the Illinois Department of Revenue also have some assessment responsibilities.
Properties of religious, charitable, and educational organizations, as well as units of federal, state and local governments, are eligible for exemption from property taxes to the extent provided by law.
This annual exemption is available for property that is occupied as a residence by a person 65 years of age or older who is liable for paying real estate taxes on the property and is an owner of record of the property or has a legal or equitable interest therein as evidenced by a written instrument, except for a
Taxpayers whose primary residence is a single-family home, townhouse, condominium, co-op or apartment building (up to six units) are eligible. First-time applicants must have been the occupants of the property as of January 1 of the tax year in question.
An assessor will not enter your house or dwelling unless they have specific permission.
The market value or fair market value is the estimated full value of the parcel should that parcel sell in a normal, arms-length transaction. The assessed value is one-third of the fair market value, as estimated by the Assessor.