Reassessment
While taxes and values generally increase, they do so at record levels when the triennial reassessment rolls through. Every three years, the Cook County Assessor’s Office (CCAO) examines a different third of the city. In 2023, an infamous reassessment hit Cicero, which saw the total market value for homes rise 40.30%, while businesses experienced a spike of 35.20%. This was one of the most devastating results of the reassessment that would live in infamy, and it led to many across the county exploring property tax appeals for the first time. 2026 will see reassessment come for Cicero once again, along with delayed tax bills. While it might not match the fury of 2023, the 2026 reassessment will bring higher values and taxes to both homes and businesses.
Ways to Save on Taxes
Property tax reduction is even more important in townships like Cicero than it is for places like New Trier. Since homeowners can ill-afford large increases to their property tax bills, it is imperative that the people of Cicero find means to reduce their values and levies. There are several options available to both businesses and homeowners, and each should be explored to its fullest potential to help lower Cook County property taxes.
Exemptions:
Starting with the basic homeowner’s exemption, taxpayers can save significantly thanks to these options. There are many exemptions that go beyond the initial homeowner’s, including those for seniors, disabled persons, veterans, and more. Many can be used in combination with each other to produce even more savings.
Property Tax Appeals:
These caught fire after the 2023 reassessment and have now become commonplace across the entire county. These allow homeowners and businesses to challenge the taxable values put forward by the CCAO. Since these are the basis for taxes, getting a reduction on these values usually translates into tax savings.
Cost Segregation:
This might not target property taxes, but cost segregation can be one of the most valuable tax-saving strategies for a business. This is because it uses accelerated depreciation of real and tangible assets to lower or even eliminate federal income taxes. In many cases, a cost segregation study will pay for itself tenfold within the first year. This is used exclusively for businesses, but can be used by the owners of rental properties as well.
Property Tax Appeals are the New Norm
If there was a bright side to the 2023 reassessment, it was that it woke the people of Cook County up to how far values could jump during reassessment. This led to more people than ever before exploring property tax appeals and other means of combating the values assessed by the CCAO. Typically, there are two opportunities to file a protest. The first is the assessor appeal, which is directly with the CCAO itself. The second is an appeal to the Board of Review (BOR), which is more formal and held later in the year. A taxpayer can file with the assessor first and then move on to the BOR if the settlement offer was insufficient. Or, the taxpayer can skip the assessor appeal altogether and go straight to the BOR.
Cook County has been embracing appeals like never before, a trend that started in 2023 but has only gained steam since. Thanks to the 2025 tax bills arriving late and being much higher than anticipated, an awareness campaign about appeals was spread throughout the county, and this was followed by an unheard-of third deadline that was opened in December of 2025. This outreach seems to have worked, and the county has since set records, even for townships outside of reassessment.
July 31, 2026: Assessor appeal deadline
April 1, 2026:First installment of property taxes due
November 2026: Second installment of property taxes due
Pending: BOR appeal deadline
O’Connor Provides the Evidence Appeals Need to be Successful
When appeals are filed, there must be grounds for them to be successful. The first is overassessment, which is when the taxpayer’s property is assessed for more than it would sell for on the open market. The other primary grounds for appeal is lack of uniformity. This is when a property is assessed for more than neighboring properties with the same characteristics. Overassessment is proven by collecting sales records dating back three years, while lack of uniformity is proven by gathering assessments across the property owner’s location. To make for an accurate comparison, these comparable properties must be of similar age, size, and location.
Gathering evidence is the hardest part of any appeal, often likened to a second job. O’Connor is here to help with this arduous process by taking care of all the analysis and evidence for our clients. We will analyze the assessment for issues, then use data-driven techniques to put together the perfect evidence. We will also use our patented databases to find the best comparable sales records and assessments. After all of this is gathered, we will coordinate an appeal with a law firm that specializes in property taxes. Our clients will not pay for this evidence or analysis unless they are able to lower their taxes.
