Episode Summary:
In this informative episode, property tax attorney Nora Devine discusses preferential assessments in Illinois and how they can lead to significant property tax savings. She explains various types of preferential assessments, including farmland, open space, and developer's relief, along with their qualification criteria and application processes.
Key Timestamps:
00:00 - Introduction
00:33 - Definition of preferential assessments
01:25 - Farmland assessments and FATAB
03:57 - Corporate campus examples and open space assessments
06:26 - Financial benefits and real-world examples
09:56 - Application process
10:26 - Conservation stewardship plans
12:41 - Common denial reasons
14:12 - Maintaining preferential assessment status
About the Show:
Divine Intervention: Shedding Light on Illinois Property Tax features Nora Devine, a property tax attorney in private practice since 2005. With her statewide practice experience across all Illinois jurisdictions and property classes, she provides expert insights into property tax matters. Hosted by Kevin Rosenquist.
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