Farlap & Associates

Property Tax Consultant in Chicago, Illinois

4.7(27 reviews)
(773) 409-44053447 W Foster Ave, Chicago, IL 60625View on Yelp
Farlap & Associates - property tax consultant in Chicago, IL

Client Reviews

4.7
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27 reviews

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About Farlap & Associates

Farlap & Associates brings over two decades of property tax expertise to Chicago area property owners. Their team of certified assessors and tax professionals has successfully reduced property taxes for thousands of residential and commercial clients throughout Cook County. The firm specializes in challenging overassessed properties through detailed market analysis and strategic appeals. They understand local assessment practices and maintain strong relationships with county officials, which helps streamline the appeals process. Their track record includes securing significant reductions for properties ranging from single-family homes to large commercial complexes.

Services

Tax Services

How They Can Help

Property tax assessment appeals form the core of their practice, covering both residential and commercial properties. They conduct thorough property valuations using comparable sales data, income analysis, and cost approaches to identify overassessments. Their commercial division handles complex property types including office buildings, retail centers, industrial facilities, and multi-family housing. Residential services include homestead exemption applications, senior citizen exemptions, and disability exemptions that many homeowners overlook. They also provide consultation on new construction assessments and help clients understand their annual assessment notices. For commercial clients, they offer ongoing assessment monitoring, lease analysis for income-producing properties, and coordination with property management teams. Their valuation experts prepare detailed reports that support appeals with solid documentation and market evidence.

What to Expect

The process begins with a free property assessment review where they analyze your current assessment against market data. If they identify potential savings, they'll provide a clear fee structure and timeline for your appeal. Once engaged, they gather property documentation, conduct site visits when necessary, and prepare comprehensive valuation reports. They handle all filing requirements and deadlines with the Board of Review. Throughout the appeals process, they provide regular updates and represent you at hearings if required. Most residential appeals resolve within 6-8 months, while commercial cases may take longer due to complexity.

Service Area

Primary service area covers Cook County, including Chicago, Evanston, and surrounding suburbs. They also handle cases in DuPage, Lake, and Will counties for existing clients or complex commercial properties. Their deep understanding of Cook County's assessment practices gives them particular advantages in this jurisdiction, where they've built relationships over many years of successful appeals.

Frequently Asked Questions

How do I know if my property is overassessed?
Compare your assessed value to recent sales of similar properties in your area. If your assessment is significantly higher than market evidence suggests, you may have grounds for appeal.
What's the deadline for filing property tax appeals in Cook County?
Deadlines vary by township but typically fall between late July and early August. Missing the deadline means waiting until the next assessment year.
Will appealing my taxes trigger an audit or reassessment?
No, filing an appeal is your legal right and won't trigger additional scrutiny. The assessor can only review the current year's assessment during the appeal.
How much can I expect to save if my appeal succeeds?
Savings vary widely depending on the degree of overassessment. Typical reductions range from 5-20% of assessed value, translating to hundreds or thousands in annual tax savings.
Do I need an appraisal to support my appeal?
Not always. For residential properties, recent sales data and assessment comparisons are often sufficient. Commercial properties usually benefit from formal appraisals.
Can I still appeal if my taxes decreased this year?
Yes, if your assessed value is still above market value. Tax amounts depend on both assessed value and tax rates, so lower taxes don't necessarily mean correct assessment.
What happens if I disagree with the Board of Review decision?
You can appeal to the Illinois Property Tax Appeal Board within 30 days. This involves more formal procedures but provides another chance for reduction.
Should I pay my tax bill while the appeal is pending?
Yes, pay your taxes on time to avoid penalties and interest. If your appeal succeeds, you'll receive a refund for the overpayment.

Think Your Property Is Over-Assessed?

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