Press Statement: West Chicago Township Property Assessments

Press Statement from Commissioner Cardenas, Cook County Board of Review

FOR IMMEDIATE RELEASE

Contact: Office of Commissioner Cardenas Cook County Board of Review Phone: 773-523-8250, George.cardenas@cookcountyil.gov

Press Statement in Response to Assessor Fritz Kaegi's Comments on Property Assessments in West Chicago Township

Chicago, IL – [Date] – Commissioner George A Cardenas, of the Cook County Board of Review, issues the following statement in response to the recent comments by Assessor Fritz Kaegi regarding the reassessment of residential and commercial properties in West Chicago Township:

"While we acknowledge the efforts of the Cook County Assessor’s Office in reassessing properties across West Chicago Township, it is imperative to ensure that these assessments accurately reflect the fair market value and do not place an undue burden on property owners.

The recent data presented by Assessor Kaegi highlights significant increases in assessed values for both residential and commercial properties. While these increases might suggest a robust real estate market, they also raise concerns about the accuracy and fairness of the assessments. Property owners, particularly those in modest homes and small businesses, should not be subjected to assessments that do not align with actual market conditions.

Key Points of Concern:

Accuracy and Fairness: It is crucial that the assessments accurately reflect the current market values and do not overburden property owners with inflated property tax bills. The Board of Review is committed to ensuring that all property owners pay their fair share and nothing more.

Significant Increases in Assessed Values: According to the data, residential properties (Class 2) saw a 24% increase in total assessed value from 2018 to 2021, rising from $3,235,583,770 to $4,006,377,398. All other classes of properties experienced a staggering 115% increase, from $2,748,116,779 to $5,921,686,198. Overall, the total assessed value for West Chicago Township increased by 66%, from $5,983,700,549 in 2018 to $9,928,063,596 in 2021. Such significant increases necessitate a careful review to ensure fairness and accuracy.

Impact on Property Taxes: An increase in property assessments can lead to higher property taxes, which can be particularly burdensome for homeowners and small business owners still recovering from the economic impact of the pandemic. Our priority is to prevent any undue financial strain on our constituents.

Appeal Process: We strongly encourage property owners who believe their assessments are inaccurate to file an appeal with the Cook County Board of Review. The appeal process is an essential mechanism to ensure that assessments are fair and reflective of the true market value. Our office is dedicated to assisting property owners through this process to ensure they receive equitable treatment. Property owners in West Chicago Township should note that the deadline to file an appeal is June 20, 2024.

Transparency and Accountability: We advocate for greater transparency and accountability in the assessment process. Property owners have the right to understand how their assessments were determined and to have access to clear and accurate information.

The Cook County Board of Review remains steadfast in our mission to provide a fair and transparent assessment process. We urge property owners in West Chicago Township and throughout Cook County to review their assessment notices carefully and to utilize the appeal process if they believe their assessments do not accurately reflect their property’s market value.

Our office is here to support you and ensure that the assessment process is conducted with integrity and fairness. For assistance with filing an appeal, please visit [Board of Review website link] or contact our office directly.

About the Cook County Board of Review:

The Cook County Board of Review is an independent agency established to provide a fair and impartial review of property assessments. Our goal is to ensure that all property owners pay their fair share of property taxes and no more.

Contact Information:

George A Cardenas, Commissioner, Cook County Board of Review Phone: 773-523-8250.