Taxable Value of Homes Surges by 7%

With the exception of Joliet Township, most areas we have explored in Will County so far have property values heavily skewed toward homes. New Lennox Township is no exception and, as of 2025, the value of residential property was over eight times as valuable as commercial real estate. In 2025, the combined value of all homes was $6.44 billion, compared to $739.01 million for commercial property. This large number was thanks to an increase of 7% from the 2024 total of $6.01 billion. Surprisingly, this is not even the largest disparity between the two property types. Plainfield Township, for example, had a residential value of $9.28 billion versus $36.29 million for commercial.

When homes are separated into blocks by assessed worth, we can see the general makeup of the community. The largest category was for homes worth between $250,000 and $500,000. These moderate residences totaled $3.79 billion, which was an increase of 7% from the previous year. Homes assessed from $500,000 to $750,000 were in second place with $1.84 billion and saw a similar gain of 7%. Adding 7%, homes worth under $250,000 combined for a value of $323.62 million.

When it comes to high-tier and luxury properties, New Lennox Township had plenty of these as well. Homes assessed from $750,000 to $1 million came in third place for overall value with $326.16 million. These larger homes added 8% to their total in 2025, as did residences worth between $1 million and $1.5 million. Totaling $55.19 million, residential properties worth over $1.5 million added 6% to their value. Overall, New Lennox Township had a diverse set of properties, with all growing significantly in value. It seems that the belief of New Lennox being an expensive place to live is quite well-founded.

New Lennox Growth Rate is Below Fellow Townships

While the property value for New Lennox Township is quite high, its 7% overall rate of growth is on the lower end, which could be good for residents and prospective buyers. Across the collar counties, many townships have seen larger upticks. In Will County, Joliet Township added 10% to residential properties, while Plainfield added 8%. Kane County had many townships add around 9%, including Batavia, Rutland, and Geneva, while Auroura added 10%. The townships of Richmond and Dorr in McHenry County each increased by 11%, while Lake County had Fremont grow by 11%, with Wauconda adding 7%.

Commercial Properties Decrease or Hold Steady

While they hold only a fraction of value compared to homes, commercial properties in New Lenox Township were still a big factor in 2025. The total of $739.01 million was still impressive for a suburban township, as many other townships rely on large metro areas like Joliet for employment. Despite its strong value, commercial property saw a minimal increase of 1%. This is typically unusual in Illinois but does have some precedent in Will County. It is rare for overall property values to grow so slowly, especially those for businesses that are rapidly becoming targets for assessors and taxing bodies.

Business real estate worth over $1.5 million accounted for $444.44 million in total value. This is what is usually seen in Illinois, and the nation as a whole, as the largest commercial properties tend to be responsible for half of the total value. The one wrinkle was that these properties only added 1% in taxable value. Usually these mammoth properties, either through honest growth or overvaluation, add more than that every year. This glacial increase is why the overall number was so low, but it was not alone. The next tier of commercial properties, those worth between $1 million and $1.5 million, only increased by .2%.

One category of properties even managed a reduction, as those worth between $750,000 and $1 million dropped slightly by .2%. Those assessed from $500,000 to $750,000 added just .5%, reaching a total of $49.53 million. Commercial property worth between $250,000 and $500,000 was the second-largest block of value with $83.31 million, which was achieved after an uptick of 1%. In third place were properties worth under $250,000. These managed to only add 1% as well. These minimal taxable value increases are good for local businesses and can help prevent passing on costs to customers, renters, and clients.

The 2025 Deadline for Appeals is September 8

Illinois is infamous for high property taxes, some of the highest in the nation in fact, and this is especially true around the Chicago area. While Cook County is on a level all its own, the collar counties are not far behind. With some of the highest taxes in the region, New Lenox Township gets double the pain. Politicians from both parties have realized that these increasing rates are no longer sustainable and have put forward many ideas to right the ship. So far, all have failed, including recent “circuit breaker” legislation. With a permanent solution stalled, it falls to the individual taxpayer to protect themselves.

Property tax appeals are quickly gaining favor across Illinois. Thanks to the horrors released by the 2023 reassessment of Cook County, people all over the state started looking into appeals for the first time. When used with exemptions, these appeals can bring serious savings to both businesses and homeowners. The two primary means of appeal are informal ones with the township assessor and formal ones with the county Board of Review (BOR). Informal appeals are a great starting point and can resolve many issues easily. For more complex matters, or if the informal appeals fail, BOR hearings can be better.

In Cook County, these two appeal types have different deadlines. Not so in the rest of Illinois. Each township sets a final date for all appeals to be filed, no matter what type. New Lenox Township, along with most of Will County, will have their deadline on September 8, 2025. This is a hard cut-off date, with no second chances given. This means that a taxpayer looking to save must get to work putting together their evidence now. Failure to do so means paying inflated values and higher taxes for another year.

Maximize Your Protest with O’Connor

Anyone who has had to deal with them knows that Illinois property taxes are complex. Appealing them can be an even bigger challenge. You must gather evidence, find comparable properties, and decide the best course of action to take. You must also keep up with deadlines that your assessor may not communicate well. The deck can often be stacked against you when trying to get your fair share of savings. With so much money in the balance, it is easy to feel overwhelmed. We at O’Connor are here to help you through the process.

For over 50 years, we at O’Connor have been fighting to reduce the taxes of our clients. Our first priority is getting the best cost-reduction possible for our clients, and we will do whatever we can to make it happen. It does not matter if you have a giant commercial property or a tiny home, we will have your back. We represented 185,000 clients in 2024 alone, across most of the United States. We may have a national presence, but we pride ourselves on using local talent to deal with the problems in Illinois. To do this, we opened a branch office in Aurora, giving us boots on the ground in the collar counties and Cook County itself.

With national resources, decades of experience, and homegrown talent in the Chicago area, we believe that we are the perfect partners for a taxpayer looking to defend their home or business. When you enroll with us, we will protest your taxes annually, securing you a fair shake every year. With this, we can establish a base value for your property, which can then be rolled over every year to help combat reassessments and other hikes. These victories tend to compound as well, producing better savings with each passing year. There is no cost to join, and you will never be charged a cent unless we lower your taxes.