Turning the Page for Taxpayers

Crain’s editorial (03/2026) regarding property taxes is to the point and its suggestions are much needed. Cook County, specifically Chicago, needs, albeit demands, responsible property tax policy. At the Cook County Board of Review, my fellow commissioners and I are focused on accuracy, due process, and transparency. In addition, valuations must reflect true fair market values: empty stores, falling commercial sale prices, and vacant floors in prime commercial office buildings. Period.

To do that, the agencies that set valuations must use common methodologies. Specifically, the Board of Review and the Assessor’s Office should arrive at relatively similar places in their independent analyses, regardless of whether those valuations are residential or commercial. The valuations variables requiring standardization are often discussed: vacancy, capitalization rates, and uniformity. Failure to arrive at common valuation processes will exacerbate the property tax burden conundrum, which given the recent election, property taxpayers do not find acceptable.