A well written appraisal is the most powerful and persuasive form of evidence that can be used to establish market value. In Illinois, a high quality appraisal can only be performed by a state certified 153 General Appraiser. We only engage an appraiser when it appears likely that the result obtained will be cost-effective to the client in terms of tax savings.
The primary advantage of an appraisal is that it gives the assessing officials something tangible to base their assessment on. Without an appraisal, the assessing official is forced to rely on homemade data which is often conservative and tends to value the subject property at a higher than realistic market value.
The Cook County Board of Review encourages the use of appraisers bearing the MAI or CAE designation. An analysis of results from the Cook County Board of Review during 2020 showed that those appellants who engaged such an appraiser fared much more favorably than those who offered other types of evidence.
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