How assessments, appeals affected tax bills

I've promised more transparency into all aspects of the property tax system. Upholding this, my office created a data dashboard that allows the public to view assessed values at each stage for tax year 2022. As the latest North suburban tax rates and property tax bills arrive, this information provides insight into how residential and commercial properties share the tax burden.

The dashboard includes each township in Cook County and demonstrates changes in total assessed values at each stage of the assessment process. At the first stage, the Assessor's Office sets values and processes appeals. At the second and final stage, the Board of Review adjusts those values based on appeals filed in their office.

It provides a clear view of how the tax burden is split between residential and commercial property owners and the effects of appeals. View the Data Dashboard at https://www.cookcountyassessor.com/data-dashboard-2022.

Although the Assessor's Office places value on properties, it is not the final arbiter of appeals and assessment changes. The Board of Review, an assessment appeal agency, changed residential AV by -2% and non-residential AV by -20%. As a result of the Board of Review's work, the final growth in North suburban assessments was 28% for residential properties and 11% for non-residential properties. Because growth in residential properties outpaced nonresidential assessed values, this shifted who pays what share of property taxes.

Assessments and appeals are not the only factors that determine property taxes. A key component is the local tax rate, which is determined by the total property tax revenue (levy) and local taxing bodies, like municipalities and school districts.

Two other factors include Tax Increment Financing districts and an Illinois property tax law that allows taxing districts to "recapture" taxes refunded to property owners who appealed their taxes the previous year.

Fritz Kaegi

Cook County Assessor