South Cook News

The Cook County Board of Review (CCBOR) has experienced a significant rise in property tax appeals for the 2024 tax year, with an increase of nearly 41% in Property Index Numbers (PINs) compared to 2023. The total number of appeals filed reached 273,907, marking the highest volume in the agency's history. This surge is attributed to notable increases in property values across both commercial and residential sectors within Cook County.

Commissioner Larry Rogers, Jr., Chairman of CCBOR, emphasized the importance of the board's role in ensuring fairness and accuracy: "The Cook County Board of Review plays a crucial role among the checks and balances in the property assessment and taxation system. In more than 20 years on the Board, I have never seen a more important time for property owners to avail themselves of their right to appeal."

According to data from the Cook County Assessor’s Office, total assessed property value increased by $9.5 billion, rising from $41.3 billion to $50.8 billion. This growth is largely driven by higher assessments on commercial properties, particularly those located in revitalized neighborhoods and near new infrastructure developments.

Commissioner Rogers noted that despite record-setting appeals, efficiency improvements have been made without increasing costs: "With more appeals to review and process than ever before, this agency is proud to always be there for property owners."

Land assessments have also seen significant increases as part of the 2024 reassessment process. Commissioner George Cardenas highlighted issues with errors in land assessments affecting South and West Suburbs: "A notable issue concerning errors in land assessments...has contributed to the overall changes affecting property taxes in each community."

For tax year 2023, over 4,000 properties had miscalculated land values leading to inflated assessments. Although corrective actions were taken by the Assessor’s Office, concerns remain about rising land assessments' impact on areas undergoing rapid development.

An independent study commissioned by the Cook County Board President’s Office supported CCBOR's valuation approach as robust. Commissioner Rogers said: "The recent independent study...affirmed that our valuation approach is robust."

As CCBOR continues processing appeals for 2024, District 2 Commissioner Samantha Steele stressed the importance of taxpayer awareness: "With significant increases in property values, it is crucial that taxpayers have the confidence and knowledge to effectively contest their assessments."

For further details on appealing a property tax assessment, residents can visit www.cookcountyboardofreview.com.

Information from this article can be found here.