Property Tax Appeal Property Tax Motigation Specialist
Chicago Reassessed in 2024
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In Cook County, the assessor values properties over a three-year period, assessing north and northwest suburban Cook one year, south and west suburban Cook the next and the city of Chicago in the third year.
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But many owners have managed to minimize the impact by appealing their assessments to the Cook County Board of Review. The total assessed value of industrial and commercial properties in northern Cook rose 77 percent last year, but the Board of Review knocked that increase down to 25 percent.
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Though a big assessment hike can be shocking, it does not translate into a tax hike of the same percentage. Assessments are just one variable in the calculation of tax bills. What matters most is not how much a property’s assessed value changes in isolation but how much it changes relative to changes at other properties.