The 2023 property tax assessment hikes have increased for a number of different property types in Cicero Township. Industrial, institutional & special buildings, retail, service, food/beverages, and commercial are the top six categories that have risen. More than $795.5 million worth of property taxes were assessed for 2023, including $219 million for industrial structures, $52 million for institutional and special buildings, $11.7 million for retail, $6 million for services, $5 million for food and beverages, and $67 million for commercial real estate. $1.67 billion to $2.46 billion, or a 47.59% increase, was the overall increase from 2022. O’Connor, among one of several significant property tax consulting firms in the country, created this research. The value of residential homes in Cicero is impacted by the 2023 tax assessment In Cicero Township’s reassessment in 2023, numerous houses were revalued; the total value of residential properties increased by 40.3%, or more than $409... Read More

Calumet Township’s most significant property tax assessment increases in 2023 were 506.80% for institutional & special structures and 150.10% for service facilities properties. Calumet’s total property tax assessment increase across both residential and commercial property for 2023 was $259 million, which included an eye-popping $39.7 million for institutional and special constructions and $10.5 million for service. Calumet assessments were up by 56.0%, from $463 million in 2022 to $722 million in 2023. This analysis was prepared by O’Connor, the nation’s leading property tax consultancy firm. Residential property values in Calumet have increased in the 2023 tax assessment In the Calumet Township reassessment for 2023, homes were revalued, with the total value of residential properties rising by an average of 54.5%, or more than $418 million, from the market value of $271 million in 2022. Difference between taxable and exempt property For 2023, Calumet Township tax rolls included 842 taxable businesses... Read More

Berwyn Township entertainment sports health properties received a notable increase in value for the 2023 property tax assessment, with values up an astonishing 154%. Values on apartments and office buildings also saw considerable gains in assessment. Berwyn’s total property tax assessment rose by $672 million in 2023, including $415k for entertainment sports health property value increases, $53 million for residences, and $1.67 million for office buildings. The overall increase was 36.6%, from $1.83 billion in 2022 to $2.5 billion in 2023. This is based on analysis of Cook County assessment data performed by O’Connor, one of the nation’s top property tax consulting firms. Berwyn homes values adjusted upward in the 2023 tax assessment Houses were revalued in the 2023 Berwyn Township reassessment, with the overall value of residential properties increasing by 36.8%, for new value totalling more than $2 billion, compared to $451 million 2023 market value for commercial buildings.... Read More

The findings of the O’Connor ratio research on the median time-adjusted sales price for an average homeowner in Fulton County, Georgia is $363,000, but the median assessed value is $368,500, thus being $5,500 higher than the market price. As a result, much residential real estate in Fulton County is overpriced. The research investigation analyzes the time-adjusted sales price to the value allocated by the Fulton County tax assessor for 2023. The market value of an average residence in Fulton County has gone up by 16.2%, but residences under $250K have suffered the most, spiking by 19.9%. Homes valued above $1.5 million are also seeing a likely unwelcome boost in the form of 18.7% higher appraisals for 2023. Fulton County single-family houses with fewer than 2,000 square feet have witnessed the most dramatic increases of over 18%. Property tax appraisals for homes more than 8,000 square feet increased by 17.6%, while... Read More

Property tax assessments for commercial property owners in Fayette for 2023 were 15.8% higher than 2022. The biggest hikes in 2023 went to hotels and landowners; both were over 20%. Land assessments for property taxes rose 82.6% in a single year, from $95.4 million in 2022 to $174.2 million in 2023. Fayette’s property tax assessments for hotels rose from $49.6 million in 2022 to $60.1 million in 2023, a 21.2% increase. In Fayette County, the total value of commercial property climbed from $1.68 billion in 2022 to $ 1.94 billion in 2023. Apartments, offices, shops, warehouses, hotels, and land are included in these property types. O’Connor, who is among the nation’s largest property tax consultants, studied data provided by Fayette County, GA to develop this analysis. Comparing Fayette County commercial increase to the analysis of the Green Street real estate firm. Commercial property value trends, according to Green Street, are... Read More