Record Number of Property Tax Appeals Filed for 2024 Tax Year

The Cook County Board of Review (CCBOR) has received a record number of property tax appeals, involving a nearly 41% increase in the total of Property Index Numbers (PINs) compared to the 2023 tax year.

Appeals filed for tax year 2024 increased by 11% over tax year 2023 and also by more than 10% above 2021, which was the last time the city was reassessed.

The unprecedented volume of 273,907 property tax appeals filed with CCBOR for tax year 2024 has presented the biggest challenge in the agency’s history—a challenge it continues to meet, as more than half the appeals have already been finalized.

This surge of homeowners, businesses, and landowners seeking fairness and accuracy is largely due to significant increases in property values across commercial and residential sectors in Cook County.

“The Cook County Board of Review plays a crucial role among the checks and balances in the property assessment and taxation system. In more than 20 years on the Board, I have never seen a more important time for property owners to avail themselves of their right to appeal,” said Commissioner Larry Rogers, Jr., Chairman of CCBOR. “We have improved performance amid record-setting appeals by improving efficiency while our costs have not increased.”

As a quasi-judicial body, the CCBOR’s mission is to serve property owners through the appeal process by reaching decisions based on all facts and data presented for each individual property. This is now more critical than ever before because of the totality of increases in assessments by the Cook County Assessor’s Office.

Commercial and Residential Property Increases

According to the Cook County Assessor’s Office Final Chicago Reassessment Data for 2024, the total assessed property value in Cook County has increased by 23%, or $9.5 billion, growing from $41.3 billion to $50.8 billion. A major reason for this jump has been an increase in commercial property assessments.

Homeowners, especially in the south suburban neighborhoods and parts of Chicago, have seen their properties impacted by sharp increases in assessed value, thus resulting in higher tax bills In addition, commercial properties, particularly in revitalized neighborhoods and near new infrastructure developments, have experienced the largest increases.

Commissioner Rogers added, “With more appeals to review and process than ever before, this agency is proud to always be there for property owners. We are committed to providing an avenue for property owners to contest the sharp increases in assessments – which directly impact their property tax bills.”

Land Assessment Increases

Along with the rise in property values, the Cook County Assessor’s Office has implemented significant increases in land assessments as part of the 2024 reassessment affecting both residential and commercial property owners.

“A notable issue concerning errors in land assessments, especially in the South and West Suburbs has contributed to the overall changes affecting property taxes in each community,” stated CCBOR District 1 Commissioner George Cardenas. “The most recent South Suburban Reassessment revealed land-value assessment increases of 650 percent or more. The CCBOR addressed numerous inaccuracies, which could have led to erroneous local government tax levies and increased mortgage escrows for homeowners.”

For the 2023 tax year, reports revealed that the land values for more than 4,000 properties were miscalculated, leading to inflated assessments and dramatic tax increases. The Assessor’s Office acknowledged these errors and worked to correct them. Despite these corrective actions, many homeowners and business owners remain concerned about the overall impact of rising land assessments, particularly in areas experiencing rapid development.

The volume of increases in property values has placed a higher financial burden on property owners, leading to that record-breaking influx of appeals and Certificates of Error coming to the Board of Review.

“The recent independent study commissioned by the Cook County Board President’s Office affirmed that our valuation approach is robust, as we utilize key data, such as tax loads and property-specific information, that should be used in the valuation process by the Assessor’s Office,” Commissioner Rogers concluded.

Finalizing Appeals

As the Board of Review works diligently amid the unprecedented volume of appeals for the 2024 tax year, property owners are encouraged to stay informed about the status of their appeals and the final assessed values of their properties.

CCBOR District 2 Commissioner Samantha Steele said, “With significant increases in property values, it is crucial that taxpayers have the confidence and knowledge to effectively contest their assessments. We remain committed to expanding accessibility through education and outreach, ensuring all residents and businesses have the support they need to navigate the appeals process.”

The dedicated members of the Cook County Board of Review continue their commitment to serving taxpayers by ensuring fairness, transparency and accuracy throughout the process. For more information on how to appeal a property tax assessment, homeowners and business owners can visit the Board of Review website: www.cookcountyboardofreview.com.

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Ray Hanania

Ray Hanania is an award-winning opinion columnist, author & former Chicago City Hall reporter (1977-1992). A veteran who served during the Vietnam War and the recipient of four SPJ Peter Lisagor Awards for column writing, Hanania writes weekly opinion columns on mainstream American & Chicagoland topics for the Southwest News-Herald, Des Plaines Valley News, the Regional News, The Reporter Newspapers, and Suburban Chicagoland.

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