The 2024 triennial assessments for all properties in Chicago have been released, revealing a staggering 30% increase in assessed values for properties in North Chicago Township, including those in Lincoln Park and along North Michigan Avenue. Cook County Assessor Kaegi has significantly raised the assessments and market valuations for hotel properties on the Magnificent Mile. […]
Continue Reading Skyrocketing 2024 Assessments for Properties on the Magnificent Mile

The Cook County Treasurer’s Office has reported a concerning statistic: only 95.1% of the property taxes billed for tax year 2023 have been collected as of September 1, 2024 which is a month after the payment due date for the second installment 2023 real estate taxes. This figure, though seemingly high, reveals a deeper issue […]
Continue Reading Cook County Tax Collections are at Highest Delinquency Since 2012

As a property owner, you may wonder why I often recommend obtaining an appraisal when considering a real estate tax appeal for your owner-occupied property. This is particularly important if you operate a business from the property. Here are three compelling reasons why securing an appraisal is essential for a successful tax appeal. 1. Compliance […]
Continue Reading Why Property Owners Should Invest in an Appraisal for Property Tax Appeals

In 2024, southern townships of Cook County have been hit with the most significant property tax increases in nearly three decades.  The second installment of the 2023 real estate tax bills, due on August 1, 2024, showed a median increase of almost 20%, with some areas experiencing hikes exceeding 30%.  These soaring taxes could force […]
Continue Reading South Suburban Properties Struggle With Effects of Significantly Higher Property Tax Increases

The second installment 2023 tax bill will be due for all Cook County property owners and taxpayers on Thursday, August 1, 2024.  Periodically, we like to inform taxpayers of the myriad of options they have to pay their property taxes. Many property owners escrow their real estate taxes and authorize mortgage companies to pay their […]
Continue Reading Methods on How to Pay Your Property Tax Bill

The 2023 second installment tax bills are now available on the Cook County Treasurer’s website (www.cookcountytreasurer.com), click on payment details (purple box), type in your property’s Permanent Index Number and then click on the link to the second installment 2023 tax bill.  The tax bills became available on-line on the Treasurer’s website on Monday, June […]
Continue Reading 2023 Second Installment Tax Bills Issue on Monday, 6/24/24

The Illinois Department of Revenue has released its final 2023 Cook County equalization factor of 3.0163.  This equalization factor is 3.17% higher than the 2022 Cook County equalization factor of 2.9237.  The final 2023 Cook County equalization factor is 6.16% higher than the tentative 2023 Cook County equalization factor that was previously released at the […]
Continue Reading 2023 Cook County Final Multiplier or Equalization Factor Set

2024 is a triennial reassessment year for all properties located in Chicago.  As a result of this reassessment, all properties located in Chicago will be revalued and reassessed in 2024.  Already, the 2024 assessments for properties located in Rogers Park Township have issued and the assessments for West Chicago Township will issue in late May […]
Continue Reading Cook County Assessor Kaegi downplays downtown commercial property’s financial issues

On Tuesday, March 19, 2024, Larry Rogers, Jr. convincingly won his sixth term as Cook County Board of Review Commissioner.  Rogers represents the city’s south side and the southern suburbs of Cook County. Rogers beat his challenger Larecia Tucker 62% to 38%.  Cook County Assessor Fritz Kaegi contributed $680,000 of his own money to fund […]
Continue Reading Cook County Commissioner Larry Rogers wins a 6th term as Commissioner at the Cook County Board of Review

On Wednesday, March 13th, the Illinois Supreme Court denied the appeal petition by the Building Owners and Managers Association of Chicago (BOMA) to overturn the Appellate Court’s ruling to allow the transfer tax referendum on the March 19 primary ballot.  The Illinois Supreme Court did not overturn the Illinois Appellate Court who stated in their […]
Continue Reading Illinois Supreme Court allows the new Transfer Tax Referendum to remain on the March 19 primary

In the intricate landscape of urban governance, tax policies often serve as a battleground where competing interests clash, and Chicago is no exception.  Recently, Mayor Brandon Johnson’s proposal to increase taxes on real estate transactions exceeding $1 million sent shockwaves through the city’s political and economic spheres.  However, this ambitious plan faced a significant setback […]
Continue Reading The Complex Dynamics of Taxation: Exploring Chicago Mayor Brandon Johnson’s “Mansion Tax”

The Illinois Department of Revenue announced a tentative 2023 Cook County Equalization Factor of 2.8414 on February 8, 2024.  This tentative 2023 Cook County Equalization Factor is 2.81% lower than the 2022 Cook County Equalization Factor of 2.9237.  Every year, the Illinois Department of Revenue is legally required to calculate the equalization factor to achieve […]
Continue Reading 2023 Cook County Tentative Multiplier or Equalization Factor Set