Posted April 16, 2020
On April 14, the Cook County Assessor announced his plans for dealing with the unprecedented economic effects of the COVID-19 pandemic. As part of his announcement, Fritz Kaegi stated “In view of the state and federal governments’ declaration of Illinois and Cook County as major disaster areas, and the pandemic’s toll on markets and property values, we are adjusting assessments to reflect this reality. To do so for only one portion of the county would unfairly shift the tax burden and create an inequitable system.”
What does this mean? To be honest, it is still unclear. What we do know is that the entire county will be given this COVID-19 consideration by the Assessor. This does not mean that every property will necessarily be given such a consideration. But it does mean that townships that would otherwise not be reevaluated will be looked at by the Assessor in light of the current crisis. We also know that this consideration will be made independent of the appeal process. The Assessor has made clear that any change to assessment he makes will be made whether the taxpayer appeals their assessments or not.
Because it is still unclear what the Assessor plans to do, it is imperative that taxpayers remain vigilant when it comes to their property tax assessments. Crane and Norcross is ready to make sure that the current crisis is accurately reflected in all property tax assessments. If you have any questions about the appeals process or any other property tax matter, please contact us at firstname.lastname@example.org or 312-726-9161.