What to know about property assessments in the event of a natural disaster
Monday, July 24, 2023
*The deadline to apply for FEMA assistance is October 16, 2023.
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A property owner who experiences severe damage to their home or building as a result of flooding is eligible for an assessment reduction if the damage is substantial enough to adversely affect the property value.
The type of damage considered to affect the overall value
The type of damage that would affect the overall value would include, physical or structural damage to the foundation or walls, the flooring in the living area, or central heating and air conditioning units, electrical or plumbing systems, drywall and insulation, and mold-related problems.
Assessment relief is not available for the following type of damage
Assessment relief is not available for damage to personal property such as carpeting and furniture, washers and dryers, or clothing (these items are not taxed in Illinois), or for normal weather damage such as basement seepage, roof leaks, or loss of gutters.
When to file
Assessment Appeals can be filed once a year at the Assessor's Office, the dates depend on which township the property is located. If a homeowner misses the filing deadline they have an opportunity to file with the Cook County Board of Review or with the Assessor's Office the following year. Please access the guides below for more information.
Tips on documentation to save
Homeowners are advised to keep all pertinent records such as; photographs, maps, insurance estimates, repair estimates and/or bills, contractor invoices, or FEMA claims, amount of any disaster relief rehabilitation loan approved by an agency of the federal government in the current year or any previous year, and any order or occupancy certificate issued by a local government authority.