In Cook County, properties are reassessed by the Assessor every three years. Starting July 1, 2022, the Cook County Assessor has begun his reassessment of those properties located in the North Suburbs of Chicago. The first township to undergo reassessment for 2022 is Norwood Park and taxpayers should have received their reassessment notices in the last week.
The Cook County Assessor has released the data behind these new reassessments and the initial view suggests large increases are in store for Cook County taxpayers who reside in the North Suburbs. In Norwood Park, the total assessed value of property increased by 32% for 2022. Residential property in the Township grew by 30% while commercial property increased by an astounding 37% from 2021. These increases, if not appealed, will almost surely lead to increased tax bills for taxpayers in Norwood Park.
It is vital that taxpayers be aware of the increases to their assessments during reassessment years. If you have received a reassessment notice from the Cook County Assessor and are not sure what to do, please contact us at firstname.lastname@example.org or 312-726-9161 today. At Crane and Norcross, LLC, we stand ready to ensure that no taxpayer pays more than they need to in Cook County.