Prepping for a Fight

It looks as though we might have a fight on our hands with the Cook County Assessor's office. This past December, the Illinois Historical Preservation Agency approved our rehabilitation project. As such, our "...assessed valuation of the historic property is frozen for eight years at its level the year rehabilitation began. The valuation then is brought back to market level over a period of four years."

However, after speaking with the Assessor's office last week, they're telling me our valuation won't be as low as what's noted in 2008 (the year we began work) but not as high as the new number for 2010. All of which details why we'll be fighting the office. Because the difference could be as much as $1,000 per year. It amazes me they think they can redefine the rules that are clearly stated in the program.