West Cook News

The Cook County Board of Review (CCBOR) has reported a record number of property tax appeals for the 2024 tax year, marking a nearly 41% increase in Property Index Numbers (PINs) compared to the previous year. The total number of appeals filed reached 273,907, reflecting an 11% rise over the prior year and more than a 10% increase since the last city reassessment in 2021.

Commissioner Larry Rogers, Jr., Chairman of CCBOR, emphasized the importance of this period for property owners to exercise their right to appeal due to significant increases in property values across Cook County. "The Cook County Board of Review plays a crucial role among the checks and balances in the property assessment and taxation system," he said. Despite handling record-setting appeals, Rogers noted that efficiency improvements have been made without increasing costs.

According to data from the Cook County Assessor’s Office, assessed property values in Cook County rose by 23%, amounting to an increase from $41.3 billion to $50.8 billion. This surge is attributed largely to commercial properties, especially those in revitalized neighborhoods and near new infrastructure developments. Residential properties have also seen sharp increases in assessed value, particularly affecting homeowners in south suburban neighborhoods and parts of Chicago.

Commissioner George Cardenas highlighted issues with land assessments contributing to these changes, noting errors particularly impacting South and West Suburbs. "A notable issue concerning errors in land assessments...has contributed to the overall changes affecting property taxes," he said.

In response to these challenges, Commissioner Samantha Steele stressed the importance of taxpayers being informed about their appeals' status and final assessed values. "With significant increases in property values, it is crucial that taxpayers have the confidence and knowledge to effectively contest their assessments," she said.

The CCBOR remains committed to ensuring fairness and transparency throughout the appeal process as they work through this unprecedented volume of cases. More information on appealing a property tax assessment can be found on their website: www.cookcountyboardofreview.com.

Information from this article can be found here.