The Cook County Assessor’s Office recently mailed letters to commercial property owners in Chicago requesting income and expense data. We do not recommend responding to this request, and it is not mandatory to do so. Ryan will be analyzing the 2021 assessments once issued and will make a recommendation at that time whether to submit the income and expense statements to the Assessor’s Office. Submission of documentation outside of the appeal process may result in misinterpretation of data.
The Ryan experts are available to answer any questions. Learn more about recent changes to tax payment late fees and penalties in Cook County in this Tax Development and continue to check our COVID-19 Tax Updates site for the most recent developments.
TECHNICAL INFORMATION CONTACTS:
Michael Abbatemarco
Principal
Ryan
312.980.1145
michael.abbatemarco@ryan.com
Shawn M. King
Principal
Ryan
312.980.1127
shawn.king@ryan.com
John Minogue
Principal
Ryan
312.980.1168
john.minogue@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.