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Assessor Kaegi Completes Two Township Reassessments, and the Results are Large Assessment Increases for the Taxpayer

By Gary Smith
03/21/2019
Assessor Kaegi Completes Two Township Reassessments, and the Results are Large Assessment Increases for the Taxpayer

Assessor Kaegi was recently elected with a mandate from Cook County voters to “reform” the property tax assessment system. He campaigned on enacting massive changes to the methods of reassessment, and to the entire tax system. He spoke about assessment “inequalities,” and promised he would work to revitalize south Cook County. Based on Oak Park native Assessor Kaegi’s campaign statements (Oak Park is a South Triennial District), we predicted the North Triennial District townships would suffer large assessment increases in Assessor Kaegi’s reassessment schemes. The reassessments of the first two North District townships in the Kaegi re-assessment era are now released, and the results are not pretty for taxpayers.

Cook County is divided into three reassessment districts, which are reassessed on a rotating three-year cycle. 2019 is the North Suburban township district year for reassessments. All Cook County suburban townships north of North Avenue are being reassessed in 2019. As of this writing, Evanston and Norwood Park township reassessments are completed. Massive assessment increases are the result, and if the assessments are not challenged, north suburban single-family home taxpayers face average assessment increases of 27% and more; assessment increases of greater than 125% are the average for over 6-unit apartment buildings.

The Law Offices of Gary H. Smith has conducted a complete statistical review of all reassessed properties in the Kaegi era. Residential classified properties (all single-family homes, and apartment up to 6 units) saw assessment increases ranging on average from just under 18% to over 36%, depending on property type. And what about the stores those folks shop in, the local offices where they work, and the small local service areas where they get their local help… what happened to them? The average commercial and industrial property’s assessment increase ranged from 45% to 145% over prior assessments, and may bankrupt a large number of vulnerable businesses, or force them to move.

Assessor Kaegi promised massive changes to the Cook County Assessment system. So far, he has delivered his promise in the form of massive assessment increases to the North Suburban Cook County taxpayer.

Township

New Trier

Elk Grove

Maine

Northfield

Barrington

Leyden

Wheeling

Palatine

Schaumburg

Niles

Hanover

Reassessment Release Date

April 1, 2019

April 18, 2019

May 3, 2019

May 24, 2019

June 4, 2019

June 17, 2019

July 5, 2019

July 25, 2019

August 16, 2019

September 9, 2019

September 23, 2019

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