Coronavirus and Property Tax – Cook County Assessment and Appeal Changes

Coronavirus and Property Tax – Cook County Assessment and Appeal Changes

As the Cook County Assessor’s Office proceeds with their reassessment of the southern and western suburbs for the 2020 payable 2021 tax year, they have announced plans to adjust assessments for all eligible properties in Cook County, Illinois to reflect the economic impact of the COVID-19 pandemic.

In addition to the scheduled reassessment of the southern and western suburbs, the Cook County Assessor’s Office also intends to review properties not scheduled for reassessment. The properties located in the northern suburbs and in Chicago proper will also receive information regarding assessment adjustments. For townships that were not part of the original triennial reassessment, the information related to assessment changes due to COVID-19 may arrive after the deadline to file an appeal for the 2020 payable 2021 tax year.

River Forest, Riverside, Oak Park, Palos and Calumet townships scheduled for reassessment for the 2020 payable 2021 tax year have already received value notices which do not reflect the impact of COVID-19. The remaining townships outside of the 2020 scheduled revaluation will receive notices that do reflect the impact of COVID-19.

With some mailings in Cook County scheduled to arrive after the deadline to file an appeal, commercial property owners should be knowledgeable and aggressive in the review and appeal process to ensure valuation methodologies reflecting the impact of COVID-19 are implemented for their property. Duff & Phelps’ property tax professionals are prepared to advise clients on all issues.

Duff & Phelps will continue to monitor the property tax landscape for all updates that affect our clients. Please reach out to one of our national team members for additional insights around the COVID-19 property tax impacts.

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