Decrease
Tax-Property Section 8-419 allows the Supervisor of Assessments to decrease an assessment after the date of finality to correct an erroneous assessment, correct an improper assessment and to prevent injustice.
Tax-Property Section 14-915 allows the refund on or before three years from the date that the property tax is paid. It is the policy of the Department to abate (decrease) an assessment for refund purposes.
Tax-Property Section 14-904 and Section 14-905 limits the refund/assessment abatement for reasons of a mathematical error made by the taxing authority, error in the property description, or other clerical error made by taxing authority or assessing authority and not because of an error of valuation.
The normal procedure for determining the number of past tax years to abate is three years from the initial contact that indicated that the property was valued incorrectly. Additionally, to maintain uniformity of treatment and to avoid penalizing the owner for early payment of the property tax, we assume that all payments are made on September 30. Therefore, if the initial complaint is within October 1 and Dec 31, then going back 3 more years will capture the current year plus 3 more years. If the initial contact is within January 1 and June 30, then going back 3 years will capture the current year plus 2 prior years.
Increase or Decrease
Tax-Property Section 8-104 requires the Supervisor of Assessments to revalue (increase or decrease) within the three year cycle if an error in calculation or measurement of real property caused the value to be erroneous.
Tax-Property Section 2-216 allows the Supervisor to correct annually the value (increase or decrease) of any improperly valued property. The Supervisor only with the approval of the State Supervisor can increase a property under appeal above the original assessment.
Appeals
Tax-Property Section 1-402 prohibits the increase of an assessment due to information ascertained at an appeal hearing on residential property during the current three year cycle.
Escaped Property
Tax-Property Section 8-417 allows the Supervisor to value “escaped property” for the current and three previous taxable years.
Notification
Correcting an error prior to February 1 for reassessment requires an in-cycle “Corrected Notice”. The out-of-cycle “Correction of Error” notice is required for all other error corrections.
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