Cook County Property Taxes: Reasons for Their Rise in 2022

After lengthy delays, homeowners are set to see Cook County property taxes potentially rise by year’s end. Typically, the bill would’ve been mailed in August 2022.

However, delays in the Cook County tax assessor’s office might lead to a higher bill than usual. Now, Illinois residents bear witness to a blame game between the assessor’s department and politicians.

Cook Count Property Taxes Increasing on December 30th

Cook County Assessor, Fritz Kaegi, said that, if left to his office, there would be no property tax hike for homeowners. Despite that acknowledgement, most Cook County residents face an increase on the December 30th bill.

According to Kaegi, other departments gave large tax breaks to commercial building owners. Thus, Cook County homeowners are left to contribute the difference. Kaegi blames the Cook County Board of Review for skewing assessment reductions on big commercial buildings. Overall, the Cook County Board of Review holds responsibility over adjusting an assessor’s number in the event that the property owner is dissatisfied with their assessment amount.

In a report filed by Kaegi, he clarified, saying that the board of review lowered their assessment of large corporation’s commercial properties by huge amounts. In turn, this allowed some commercial property owners to cut their property tax bills by more than $1 million.

Commercial Property Owners Address Kaegi’s Statements

In response to Fritz Kaegi’s statements, commercial property owners claimed that Kaegi unfairly increased their assessments. In addition, Chief Deputy Commissioner, William O’Shields, defended the board’s ruling in a statement:

"Assessor Kaegi's 'it's not my fault' report ignores the reality that he continues to make numerous and significant errors in his assessment of Cook County properties resulting in the (Board of Review), the Illinois Property Tax Appeal Board, and Cook County Circuit Court having to correct his mistakes,” O’Shields said.

O’Shields also mentioned that the Board of Review’s tactics are in line with similar organizations across the country. The almost updated property tax bills can be found on the Cook County Treasurer website with a due date of December 30th.

For legal guidance surrounding Illinois residential and commercial transactions, schedule an appointment with the attorney at Lee Scott Perres, P.C.