Property Taxes

Cook County Assessor raised the market value of 103 N Laramie Avenue, Chicago by 1,642% increase in just one year! This is for a duplex in West Chicago Township. The total market value was raised to $310,000 in 2024 from $17.800 in 2023. The assessed value rose from $1,780 in 2023 to $31,000 in 2024. … Read more

In Illinois, every county and township has its own regulations. In Cook County, residential properties are evaluated as of January 1st of the current year, utilizing three to five years of prior market sales data. This enhances the stability of market value estimates by employing multiple years. It is important to use prior market sales … Read more

Now that the second installment of the Cook County tax bills are out, all Residential property owners should check their bills for exemptions. Cook County is notorious for making exemption errors and not applying those to bills. The three most common errors are the Homeowners, Senior, and Senior Freeze exemptions. If you find you are … Read more

As a homeowner, property taxes are unavoidable. Unfortunately, recent assessments in Cook County have left many Chicago residents and landlords grappling with unprecedented increases and errors. It is important to keep track of your assessment notices and challenge them when it is appropriate. The I-Team at ABC 7 has uncovered many instances of dramatic assessment … Read more

2023 Property tax assessments for New Trier Township apartment complexes have increased significantly and now total $62.4 million. Retail buildings saw a gain of $6 million, commercial real estate increased by $9 million, and institutional and special properties saw an increase of $979,000. In comparison, the cumulative rise in commercial and single-family property tax assessments … Read more

Hanover Township of Cook County, Illinois saw property values rise from $3.6 billion in 2022 to $3.8 billion in 2023, with an overall gain of 3.7%. The Hanover Township 2023 property tax assessment predominantly increased the value of industrial buildings, with a secondary concentration on service facilities. Hanover’s overall increase in the 2023 property tax … Read more

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 … 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 … 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 … 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 … Read more