Elk Grove Reassessment
Like the rest of the northern suburbs, Elk Grove was the target of reassessment by the Cook County Assessor’s Office (CCAO) in 2025. Every three years, a different third of the county is chosen to be reexamined by the CCAO, a process that usually sees stark increases in the taxable value of homes and businesses. The market value for homes in Elk Grove spiked 26%, while commercial real estate added 52%. These increases represented a major threat to homeowners and small businesses, and had an outsized impact on a middle-class township like Elk Grove. Taxes can still increase outside of reassessment, thanks to rising property values and the unpredictable nature of the the equalization factor.
How to Reduce Property Taxes
While property taxes and rates themselves cannot be lowered by taxpayers, the taxable value of property can be. The CCAO assesses every property with a market value, which is the estimated sale price that a piece of real estate would get on the open market. This is then multiplied by the assessment ratio, which is 10% for homes and 25% for most businesses. This total is then multiplied by the equalization factor, which results in the equalized assessed value (EAV). This is the number that tax rates are applied to. In order to reduce taxes, a taxpayer must first lower their EAV.
Exemptions:
The first way to lower taxable value is to use exemptions. Cook County has many exemptions, headlined by the homeowner’s exemption. This functions like the homestead exemption in the rest of Illinois and reduces EAV by $10,000. There are other options, including those for seniors, people with disabilities, veterans, and more. Every taxpayer in Elk Grove should maximize their exemptions as a first step.
Property Tax Appeals:
Growing in popularity, appeals target the values levied by the CCAO directly. A successful appeal can correct or lower values that are not accurate, reducing the EAV and potentially leading to tax savings. Appeals need to be for certain grounds and require evidence to be successful.
Property Tax Appeals Vital to Elk Grove
While exemptions should always be the first remedy to high property taxes, appeals are quickly becoming a necessity for property taxes in Cook County and throughout Illinois. These protests can lower EAV before exemptions are applied, which means even more savings. Appeals are also the only way to fix assessment issues before tax bills are issued. Because the stakes are so high when it comes to tax bills, Cook County has seen the use of property tax appeals like never before.
Thanks to recent high-profile issues, such as reassessments, late tax bills, and even controversy around the Chicago Bears, many government entities, including the CCAO itself, encourage taxpayers to appeal whenever they can. Cook County taxpayers have two separate property tax appeal deadlines, an advantage no other Illinois county has. The first is a formal appeal to the CCAO itself, while the second is an appeal before the Board of Review (BOR), an impartial organization. Assessor appeals can be skipped if a taxpayer wishes to go straight to the BOR, but there is a wait time of several months between the two protest windows.
August 4, 2026: Last day for assessor appeals
April 1, 2026: Due date for the first installment of property taxes
November 2026: Second installment of property taxes due
Pending: BOR appeal deadline
O’Connor Builds Strong Evidence
For an appeal to be successful, there needs to be strong evidence on the side of the taxpayer. Putting this evidence together is the largest obstacle for homeowners and businesses, which is why appeals have traditionally been an option for those with means. The evidence needed varies by the grounds that a taxpayer chooses. If a taxpayer decides to protest on the grounds of overassessment, then the taxpayer must collect sales records dating back three years. For instances of unequal assessment, the taxpayer must collect multiple assessments from neighboring properties.
O’Connor simplifies things by handling the evidence collection for our clients. We use data-driven techniques to analyze assessments and proprietary databases to find the perfect sets of sales records and assessments. We can then package this evidence into portfolios that will please both the CCAO and the BOR. Once the evidence is curated, we will coordinate an appeal with a law firm that has expertise in property taxes. We do not charge upfront for this evidence or analysis and only get a fee if our clients’ taxes are lowered.
