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Home sale prices up, median values down in Palatine Township

Cook County Assessor Fritz Kaegi announced Monday that reassessment notices were mailed to more than 27,000 single-family, 12,000 condominium and 2,000 industrial/commercial property owners in Palatine Township.

A detailed narrative regarding the reassessment of residential properties in Palatine Township can be found at www.cookcountyassessor.com/reporting.

"The reports are part of our office's commitment to increase transparency and provide greater predictability within our assessment system," Kaegi said in a news release. "We have released reports for the first nine north suburban reassessment townships and will continue to post reports for the remaining three townships as notices are mailed throughout the year."

Among the findings from the residential Palatine Township reassessment are that the median assessed value of homes decreased to $30,242 in 2019, from $31,466 in 2016 - a median percentage decrease of about 3.9%. The median sale price for single-family homes and other non-condo residential properties increased to $312,450 in 2019, from $290,000 in 2016.

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