5 FAQs Regarding Association Group Property Tax Appeals

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Property owners all over Chicago are seeing increases in their property tax bills. Your property assessment determines your tax bill. When a tax appeal is done, you are actually appealing your property's assessed valuation, not the tax directly.

All owners should consider appealing this assessment to lower property taxes, but if you live in a condo, townhouse or homeowner association, you should consider filing your tax appeal as a group.

Below are 5 of the most commonly asked questions about group appeals and the property tax appeal process.

1. What is a group appeal?

2. Why would/should you appeal as a group?

3. Will an appeal lower tax bills?

4. How do appeals work?

5. Does the association need to hire an attorney?

For answers to these questions, click here.


Assistance Animal Laws & Community Associations

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Assistance animals play an important role in the lives of people with disabilities. The federal Fair Housing Act (FHA), the Americans with Disabilities Act, as well as state and local laws govern assistance animals in community associations.

Community associations must recognize the rights of individuals with disabilities to receive the assistance they need within their home and must comply with federal laws guaranteeing such rights.

The U.S. Department of Housing and Urban Development (HUD) released clarification earlier this year related to documentation from the internet, observable versus nonobservable disabilities, and types of animals that may qualify as assistance animals. Check out those resources here:

Documentation from the internet: Page 11 of January 2020 Guidance

Type of Animal: Page 13 of January 2020 Guidance

Observable and Nonobservable Disabilities: Page 9 of January 2020 Guidance

Know the red flags associated with fraud

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Condominium associations are often the unfortunate targets of fraud. Assocation bank accounts often hold enticingly large sums of money, and without proper oversight that money can be suddenly or slowly drained by individuals with access.

At Haus Financial Services, we know that a lack of transparency can be a major red flag, indicating possible fraud. Our services are designed with the goal of high transparency between our company and the board, and the board and the owners. 

To learn about other red flags that may indicate a risk of fraud and ways to protect your association, see this article from Kovitz Shifrin Nesbit.

2022 Income Tax Returns for Condo Associations Due April 18th

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Condominiums associations are considered corporations in the eyes of the IRS. As such, they are required to file an annual tax return (either an 1120 or 1120-H).

Condo associations showing taxable income on their federal returns are also required to file an IL-1120 with the state of Illinois.

Tax returns must be postmarked by April 18th this year. If your association has not filed a return in the past, now is the year to begin!


Can a condo association do away with proxies?

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Most associations allow for the use of a "proxy" for owner votes. A proxy is a document that assigns voting rights to another individual or to the board and may be used for elections, votes on amendments or other matters subject to owner votes. Generally, a proxy extends the power to vote on behalf of the owner for a specific matter and period of time. Proxies cannot be granted for voting on matters that are restricted to the board, however.

Prospective candidates have been known to solicit proxies from owners in order to gain the right to vote on their behalf. This practice is often controversial. Would your condominium association board be allowed to adopt an "anti-harassment" rule that prohibits an owner from contacting other owners to solicit proxies for the board election? 

Find out here.