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Estate Taxes are Too High


Real My


CAN YOU HELP ME?


 vote of the board. The Condominium Property Act also gives the board authority to charge back legal fees to the  most jurisdictions, the effect of the individual appeal is to void that unit’s appeal in the group appeal, but it has no effect on the other unit owners that remain in the group appeal.


P


Many assessing officials are using new standards for reviewing the assessments. Sales within the association are typically relied upon to determine the value of the units. In the past, a deduction was made for personal property and other factors before the sale was used to


18 | COMMON INTEREST®


develop a value for the building as a whole. Presently, this deduction is often not made. This change is making it more challenging to win assessment reductions for condominium associations.


• Spring 2020 • A Publication of CAI-Illinois Chapter


By Joanne P. Elliott, Esq., Partner, Elliott & Associates Attorneys, P.C.


roperty managers and board members are often confronted by outraged unit owners wondering what the association is doing to reduce their real estate taxes. The good news is the Illinois Condominium Property Act


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