Why Chicago Landlords Should Appeal Property Taxes on Every Rental Property Every Year

If you own rental properties in Cook County and are not filing annual property tax appeals on every building in your portfolio, you are leaving money on the table. Property taxes are likely your largest operating expense after debt service, and even modest reductions compound into significant savings across multiple properties and years.

The Case for Annual Appeals

Many landlords assume they only need to appeal during their triennial reassessment year. This is a costly misconception. The Board of Review opens filing windows for every township annually, regardless of the reassessment cycle. Market conditions change, operating expenses shift, and your property's financial performance may justify a lower assessment even in non-reassessment years.

Consider this: if you own five rental properties and achieve an average 15 percent reduction on each through annual appeals, the cumulative savings over a three-year assessment cycle could easily reach $25,000 to $50,000 depending on property values. That is money that flows directly to your bottom line.

How Annual Appeals Protect Your Portfolio

Filing annually creates a documented history of engagement with the assessment system. This matters because it establishes a baseline that makes future appeals more credible, prevents your assessment from creeping upward without challenge, and ensures that changes in market conditions, vacancy, or property condition are reflected in your assessment promptly rather than years after the fact.

What Landlords Need to Prepare

For each property in your portfolio, you should maintain current rent rolls showing actual rents collected per unit, documentation of vacancy periods and collection losses, annual operating expense statements, capital expenditure records, and photographs documenting property condition.

The Portfolio Approach

When you work with a property tax attorney to appeal your entire portfolio, there are efficiencies that benefit you. Common market trends across your properties can strengthen individual cases. Neighborhood-level data on rents, vacancy, and sales can be compiled once and applied across multiple appeals.

Common Objections and Why They Are Wrong

Some landlords worry that filing an appeal could trigger an increase in their assessment. In Cook County, this virtually never happens. When you appeal to the Board of Review, your assessment will either stay the same or decrease. There is no penalty for filing.

Others assume the savings are not worth the effort. With contingency-fee representation, there is no upfront cost and no fee unless the appeal succeeds. The risk-reward calculation overwhelmingly favors filing.

Start Your Annual Appeal Program

If you own rental properties in Cook County and want to implement a systematic annual appeal strategy, contact Younis Law Group. We offer portfolio-level representation for landlords and investors, handling every aspect of the appeal process while you focus on managing your properties.