By Hanover Township Assessor, Thomas S. Smogolski, SRA, CIAO
Can I do anything to reduce my current tax bill? If you are eligible for a homeowner, senior citizen or other exemption but did not receive one, the Township Assessor’s office can assist you in obtaining a revised bill for a smaller amount. If you have received all exemptions for which you are eligible, you likely will not be able to do anything about your current bill.
Can I do anything to reduce future tax bills? Later this year, the Cook County Assessor or Cook County Board of Review will be accepting appeals from Hanover Township residents for next year’s taxes. When appeal dates are announced, residents may come in to Hanover Township for help in preparing an appeal.
Why aren’t property taxes going down when property values are going down? The main reason property taxes are not falling is that the cost of providing government services is not falling. Property taxes provide most of the funding for public schools and other local services. Typically, the cost of providing these services increases every year by about the rate of inflation.
Is every tax bill going to increase by the inflation-level increase in spending? No. Some properties will face double digit increases in their property taxes this year, while other properties will see smaller tax increases or tax reductions. When all the tax increases and reductions are added together, however, the net increase will match the inflation-level increase in tax levies.