Palos Township Property Tax

Blessed with wilderness and countless nature trails, Palos Township stands out from many other Chicago suburbs. With a population from various economic backgrounds, the township boasts both affluent areas and more modest neighborhoods, bringing plenty of diversity to the community. Connected by rail to the city, Palos offers the people of Cook County an escape from the urban sprawl of Chicago. The people of Palos have not been able to escape rising property taxes, however, and are cursed with the same high bills as the rest of Chicagoland. There are methods to reduce this, making life more affordable for both homeowners and businesses.

Reassessment

Unlike most townships in Chicago, Palos has seen little increase in property values outside of the triennial reassessment. 2024 and 2025 saw very little increase in property values overall, though the equalization factor and tax rates increased. Palos had been a victim of the 2023 reassessment, which hit the southern and western suburbs hard, though it did not experience the huge swings that neighbors like Berwyn or Riverside did. In 2026, the Cook County Assessor’s Office (CCAO) will once again focus on Palos as the triennial reassessment swings back around. This usually means property increases of 20% or more, which have been common for other townships caught in the reassessment in 2026.

Options for Reducing Taxes

While the equalization factor and tax rates are in the hands of the government, the average taxpayer can lower their property tax bills by reducing their taxable property values. These efforts do not hurt the resale value of a home or business, but simply correct any issues or overassessment that the CCAO is responsible for. Cook County has the highest property taxes in the nation, and even suburbs like Palos are not spared. With no legislative solutions coming, it is up to the average taxpayer to fight back.

Palos Homestead Exemption

Exemptions:

Starting with the humble homeowner’s exemption, the best way to get an easy reduction is to use exemptions. Outside of the homeowner’s, there are plenty of other exemptions that can reduce taxable values, including those for seniors, veterans, and people with disabilities. These can be applied for with certificates of error, even if the filing deadline has passed.

Palos Property Tax Appeal

Property Tax Appeals:

These are becoming commonplace and became a major consideration for many taxpayers following the 2023 reassessment. These are used to challenge the values created by the CCAO and can fix major errors that would otherwise cost a homeowner or business thousands of dollars a year. These require evidence and effort, but are almost always worth it.

cost seg analysis

Cost Segregation:

This is for businesses only, and uses accelerated depreciation to lower federal income taxes, and can often eliminate them in the first year. While they may not help with property taxes, these can lower one of the largest expenses a business can face, allowing cash to be used in other areas, including paying large property tax bills.

Property Tax Appeals Help Taxpayers Fight Back

With reassessment grinding through, the people of Palos Township need a way to protect themselves. While exemptions are a necessary step, appeals can bolster them, bringing in double the savings. Exemptions are applied to the equalized assessed value (EAV), while appeals typically lower the market value. Market value is used to calculate EAV, so getting the first figure lower provides excellent reduction potential. In such a high-tax environment, taxpayers need every edge they can get. This is especially true for businesses, which have a higher tax burden and fewer exemptions to rely on. There needs to be grounds for an appeal, however. This can be because a property is overassessed or is not assessed uniformly.

Taxpayers in Palos and the rest of Cook County do have advantages over the rest of Illinois, most notably, they have two appeal deadlines instead of one. The first option is exclusive to Cook County, which is assessor appeals. These are directly with the CCAO itself and can often result in excellent reductions. Months later, taxpayers have the option of doing a formal appeal with the Board of Review (BOR). Assessor appeals must be filled within 30 business days of the notice of reassessment being issued.

schedulePalos Deadlines

Assessor appeal deadline: July 17, 2026

BOR appeal deadline:Pending

First installment of property taxes due: April 1, 2026

Second installment of property taxes due: Pending

O’Connor Aids Appeals with Analysis and Evidence

While government agencies, including the CCAO, recommend that Cook County taxpayers appeal annually to help reduce Cook County property taxes, doing so successfully is another matter. First, evidence must be gathered. For cases of overassessment, this means putting together sales records that date back up to three years for various properties in the area. For lack of uniformity, this means putting together assessments that show the taxpayer’s property is being assessed at a higher rate than their peers. For the comparisons to be valid, the properties must share the same location, size, number of rooms, and age.

We at O’Connor can help by providing premium assistance when it comes to analysis and evidence gathering. We use data-driven techniques to check assessments for any issues that need to be resolved. We then use our advanced databases to find the best sales and assessment comparisons possible. Finally, once this is all put together in a professional package, we coordinate an appeal with a law firm that has expertise in property tax protests. There is no upfront cost, and our clients only pay if they and their attorneys can lower their property taxes.

Frequently Asked Questions About Palos Property Taxes

While you can handle filings and hearings yourself, Illinois law requires that anyone representing you professionally be a licensed attorney.

Demand for space, growing pension issues, poor funding by the state of Illinois, rising demand for government services like schools, and general mismanagement are all contributors.

It is applied to the assessed value before tax rates are, which often makes the EAV considerably higher.

In Cook County, only 10% of a home or 25% of a business can be taxed. Assessed value is the market value after it has been reduced by the applicable assessment rate.