Cook County Property Tax
Cook County follows a triennial reassessment cycle, meaning that all Cook County commercial real estate is reassessed once every three years. A property’s reassessment year depends on the township in which the property is located. To best organize the reassessment cycles, Cook County is divided into three townships: The City of Chicago (City Tri), North Suburbs (North Tri) and South and West Suburbs (South Tri). Most other Counties in Illinois reassess properties on a quadrennial basis, meaning that property is reassessed once every four years. These are done for the entirety of the County all at once much like the majority of commercial real estate nationwide.
Commercial and Industrial properties in Cook County are assessed at 25% of market value. Unlike most counties in Illinois, Cook County does not assess at the township assessor level. The Cook County Assessor is responsible for assessing all properties in all townships.
Invoke Tax Partners’ expert team of Cook County property tax consultants, led by industry expert Brendan Douylliez, has decades of experience navigating the complexities of Cook County reassessments, valuations, and appeals. Contact us today to schedule a complimentary desktop review of your Cook County portfolio to secure maximum savings opportunities.
Cook County Property Assessment Appeal Schedule
There are three levels of assessment appeal in Cook County: The Cook County Assessor’s Office (1st level of appeal), The Cook County Board of Review (2nd level of appeal), and the Illinois Property Tax Appeal Board or Cook County Circuit Court (3rd level of appeal). Deadlines for each level of appeal are set individually by township, and the breakdown typically follows this timeframe:
- The Cook County Assessor’s Office appeal deadlines typically run from April through February of the following year
- The Cook County Board of Review deadlines typically run from December through May of the following year
- The deadline to file to the Illinois Property Tax Appeal Board is 30 days after the Board of Review decision
- Specific Objections (Circuit Court) must be filed 165 days after the first penalty date of the final installment of taxes for the year in question
The Cook County assessment appeal process can be cumbersome, with appeals to the Illinois Property Tax Appeal Board and Circuit Court taking anywhere from 3 to 5 years to settle on average. The Cook County appeal process requires a great deal of paperwork to be completed, information to be submitted, and rules/procedures to be followed. Not submitting the proper paperwork or information, or not following the rules completely, will most-likely result in an unsuccessful appeal, making partnership with an experienced property tax consulting firm an imperative part of a successful appeal.
Cook County Reassessments in 2023
2023 is a reassessment year for the South and West Suburbs. Cook County reassessment increases are becoming more difficult to predict than in past years. However, Cook County commercial and industrial property owners will most likely see estimated assessment increases anywhere from 15% – 25%. Those properties in the City of Chicago and the North Suburbs will not see substantial increases in their 2023 assessments but should expect them when they are reassessed in 2024 or 2025.
Invoke Tax Partners and Cook County PRoperty Taxes
Invoke Tax Partners’ team of Cook County property tax consultants average 15 – 20 years’ experience in the industry and have extensive knowledge of the local appeal process. Our team is comprised of consultants that are current or former appraisers, or worked for the same County agencies they are appealing assessments to. Properties are reviewed and appealed by senior level analysts with decades of experience in the industry.
We leverage our excellent relationships with local appraisers and attorneys, with which we may need to partner with throughout the Cook County assessment appeal process. We engage the best in the business to assist us when needed. If the assistance of an attorney is needed at any time throughout the appeal process, Invoke will recommend to the client a competent and experienced attorney to assist with the specific assets in question, and Invoke will cover all legal costs associated with the appeals.
The Attorney’s Role in a Cook County Assessment Appeal
An attorney is not needed to appeal to the Cook County Assessor’s Office (1st level of appeal). The assistance of an attorney is needed to file an appeal to the Cook County Board of Review (2nd level of appeal) and the Illinois Property Tax Appeal Board or Circuit Court (3rd level of appeal). Rules prohibit anyone besides the owner or an attorney to represent the client before the Board of Review, the Property Tax Appeal Board or at Circuit Court.
All attorneys are not created equal in Cook County appeal board scenarios. Invoke Tax Partners strategically selects the proper attorney based on asset class and township to help us best navigate higher appeal levels in the Cook County appeal board and circuit court processes. We make sure that each attorney we partner with is hand-selected as the best solution for your unique parcels and portfolio based on their experience and relationships in the area and with various asset classes. Invoke plays an integral role in the selection of an attorney, should this be necessary, as this decision is one that will directly affect your assessment reductions and respective property taxes in Cook County.