The Cook County Assessor's Office is responsible for valuing the more than 1.3 million residential parcels in Cook County. The County is divided into three assessment districts, City, North and South, and this includes 38 individual Townships. Each Township is reassessed and each individual parcel is given a new Assessed Value once every three years.
The Cook County Assessor uses a computer-assisted mass appraisal method to reassess each property. They utilize a computerized sales model and consider several factors including, sales of comparable properties, land, location, building square footage, and construction type. This method reviews all the sales within a neighborhood and estimates a market value by assigning values to the individual building characteristics of sold properties. This is a very general comparison model and is only specific to the individual neighborhood code, and land-use code.
There is a 85% chance that you are Assessed too high and have a case for appeal. Meaning that if at least 15% of the properties in your neighborhood and land-use code are assessed less than your property, we can use them as evidence to appeal.
It is also important to remember that the Assessor is assigning the new Assessed Values only for taxing purposes. These values are usually higher or lower than the actual market value of the property. When we analyze your property we will review all of the properties in your neighborhood and land-use code to determine if you are over assessed. If necessary we will also look at other residential properties outside of your land-use code to assist with your case.
All of our data comes directly from the Assessor and is updated on a weekly basis.