In Cook County, the property tax burden has shifted to commercial and industrial properties and away from homeowners. The new Cook County assessor, Fritz Kaegi, began the process of reassessing properties in Cook County when he took office in January. […]
Illinois Gov. JB Pritzker recently signed into law House Bill 833, which amends the property tax code to automatically renew the Senior Citizen Homestead Exemption in Cook County once it’s been granted. This bill passed both the House and Senate […]
The Illinois General Assembly is considering two pieces of legislation that would limit the amount of property tax levied on affordable housing. This could increase property taxes across the board. What Each Bill Would Do The pending bill is Senate […]
In Cook County, the Assessor’s office oversees more than 1.3 million residential parcels, divided into three assessment districts. One of those districts is re-assessed every year using a computer-assisted mass appraisal method. How Mass Appraisal Works Computer-assisted mass appraisal works […]
Single-family homeowners on the North Side and central portion of Chicago are about to see their property taxes skyrocket, with some seeing increases of more than 11 percent. When Cook County Clerk Karen Yarbrough released her final calculations on new […]
What should be good news—that, according to the Association of Foreign Real Estate Professionals survey this year, 71 percent of respondents said they wanted to increase their investment in commercial real estate in the United States—was actually bad news for […]
Property owners in Evanston and the northern Cook County suburbs will be the first to feel the impact of the revised assessment process from new Cook County Assessor Fritz Kaegi. Commercial property owners are bracing themselves for a large increase […]
Cook County homeowners often miss some of the property tax breaks for which their properties qualify and end up paying more money than they need on their property taxes. Property Tax Exemptions Can Help In addition to appealing the appraised […]
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 […]
The amount of property taxes within Cook County remains a moving target as various government entities pile on the percentages to fill its coffers. As the saying goes: “Nothing is certain in life except death and taxes.” Illinois Property Taxes […]
