Yes, you should pay your property tax bill because it never coincides with the year’s final payment which we are appealing. For example, the due date for the Tax Year 2011 First Installment in Cook County, Illinois, was Thursday, March 1, 2012. If we reduce your property taxes, the reduction or the new/revised amount will be reflected on your SECOND installment for 2011, which has not been mailed yet. Therefore, there is never a refund (if your taxes are reduced).
Also, be careful in confusing a term “reduction in property taxes” with the actual tax amounts. What happens in the real estate tax appeal process is your property VALUE, not your taxes, is being reduced. This means that if the value of your property is decreased, your taxes will be lower. But it does not mean that your ACTUAL tax amount will be lower. Counties struggle to meet their budgets and continue to increase tax rates (tax rates cannot be changed once they are set). However, if your property value is reduced, the amount of taxes is lower than it would have been without the appeal.