2019 Triennial Assessment for all Properties Located in Northern Townships in Cook County and 2019 Quadrennial Reassessments for all Properties Outside of Cook County will issue in the upcoming months
On December 3, 2018, the new Cook County Assessor will begin his term in office. The new Assessor will promptly begin work on the upcoming 2019 assessments at the end of 2018 and during the first half of 2019. For 2019, the 13 northern townships of Cook County, will be re-assessed. This group of townships include all properties located in Barrington, Elk Grove, Evanston, Hanover, Leyden, Maine, New Trier, Niles, Northfield, Norwood Park, Palatine, Schaumburg and Wheeling Townships. In the prior triennial assessment period (2015) for Triennial District 2 (northern portion of Cook County), these 13 townships saw median assessment percentage increases ranging from 13.43% (Hanover Township) to 25.04% (New Trier and Evanston Townships). In 2018, properties located in the City of Chicago were re-assessed and the median assessment percentage increases ranged from – 0.325% in Hyde Park Township to a 31.24% increase in Lake View Township. The Assessor has traditionally based their re-assessments using sales in Cook County from the three prior years (2016-2018) to value properties in that township.
For all properties located outside of Cook County, 2019 will be a quadrennial assessment year and all properties will be re-assessed and valued again using statistical sales data from 2015-2018.
Due to the historically low interest rates and the appreciation of the residential and the commercial markets over the past few years, please be ready for assessment increases which could be substantial.
This prediction should come as no surprise to taxpayers in Illinois, where studies have concluded that Illinoisans’ tax burden (property tax, sales/excise tax, income tax, etc.) is the 8th highest in the U.S. This high tax burden might be a contributing factor to why Illinois ranks second in the nation in losing more than 290,000 of its residents who have moved out of the state during 2013-2017 per the U.S. Census Bureau’s 2017 “County Population Totals and Components of Change”.
Please call our office at 312-372-2500 for an assessment review of your properties.
