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Cook County Assessor's Office
October 13, 2021
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Chicago Reassessments Continue
Reassessment Notices Sent to Owners in North and South Chicago
The most recent Chicago townships to receive Reassessment Notices by mail are North and South Chicago Townships. The Reassessment Notice contains the property's address, characteristics, and an updated estimated Fair Market Value. For reference, properties in Chicago were last reassessed in 2018, and now in 2021 following the triennial reassessment cycle set place in Cook County.
Understand your Reassessment Notice and Appeal Process
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If the property characteristics listed on your assessment notice are incorrect, or if the estimated market value of your home is significantly more than what you believe your home could sell for in the current real estate market, you may consider filing an appeal.
Before deciding if an appeal is necessary, homeowners are encouraged to read the detailed Valuation Reports that outline the changes in the market and the Assessor's model.
Check the Assessment & Appeal Calendar to see when your township is open to file an appeal.
A good rule of thumb is if the estimated market value is within 10% of what you think your home would sell for in the current market, then an appeal based on overvaluation is most likely not necessary.
As a reminder the job of the Assessor’s Office is to estimate market values of all homes, such that estimates are an accurate and unbiased reflection of the market.
Chicago's real estate market is robust.
Property values throughout the City have generally remained steady, or increased, since Chicago’s last reassessment in 2018. In 2018 the median sale price of a single-family property in South Chicago was about $360,000 and in 2020 it was $420,000. This is a change of $60,000, or 17%. Note that each individual home’s 2021 assessment may go up or down by varying percentages, because every home is different.
In 2021, our job is to produce estimated values of all homes. At the initial stage of this job, our median estimated value of South Chicago single-family properties was $350,000.
The map below shows averages of our model’s estimated 2021 values of all homes throughout South Chicago Township:
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 How assessments relate to property taxes
An increase in a property's assessment does not lead to the same increase in an individual property’s tax bill. A property’s share of taxes depends on reassessments throughout all of Chicago, from homes in Chatham and Jefferson Park to commercial properties in Little Village and the Loop.
Property reassessments are ongoing for Chicago’s remaining three townships. If the growth in assessed values throughout Chicago outpaces the growth of the assessed value of an individual property in a township within Chicago, that individual property’s share of property taxes could shrink despite its increase in property value.
Property assessments in Chicago are used to apportion taxing district levies, which pay for services such as schools, parks, libraries, and pensions. The Assessor's Office does not set levies or tax rates. In addition, increases in assessments do not necessarily increase the revenue received by taxing districts.
The 2021 reassessments will affect the property tax bill issued in the summer of 2022. Homeowners can also check their property tax bills to view the taxing districts funded by property taxes.
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Resources to help understand the appeal process
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Watch Video
Share Social Graphic
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Essay appears in “Reclaiming Right to the City” collection from the Chicago Council on Global Affairs
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Receive Property Tax Assistance
Join us for a virtual workshop to learn about recent reassessments in South Chicago Township.
Date: Monday, October 18th
Time: 6:00 p.m. to 8:00 p.m.
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Missing Exemptions / Certificates of Error
Our staff is working diligently to process Certificate of Error applications for tax years 2020, 2019, 2018, and 2017. If a Certificate of Error application is approved, a letter will be mailed from the Assessor's Office stating the adjusted property tax bill amount. Upon approval, the Treasurer's Office issues a refund check by mail. This process takes 1-2 months and sometimes longer during peak seasons.
If a Certificate of Error application is denied due to missing required documents, the homeowner may reapply with the appropriate documentation. We do encourage homeowners to apply online as our staff can easily locate the application and provide an update.
We thank you for your patience.
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Cook County Assessor's Office
118 North Clark Street, Third Floor, Room #320, Chicago, IL 60602
www.cookcountyassessor.com
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