Cook County Property Tax Warning: Land Assessed Value Increasing
Based on statistics recently provided by the Cook County Assessor as part of their triennial assessment, assessed land values for Barrington, Evanston and New Trier townships have increased 15-21% over 2013.
Assessed land value decreased in these townships by 2-13% from 2010 to 2013 but are now 2-16% higher than they were in 2010.
See the table below for the assessed land value data:
|Cook County Township||2010 Land Assessed Value||2013 Land Assessed Value||2016 Land Assessed Value|
|Barrington||$6,666||$5,817 (-13%)||$7,017 (+21%)|
|Evanston||$7,522||$6,696 (-11%)||$7,708 (+15%)|
|New Trier||$13,529||$13,281 (-2%)||$15,710 (+18%)|
While you can appeal the building assessed value of your home, it is more difficult to appeal your assessed land value. This makes these increases particularly troubling. Therefore, when land value assessments go up, the potential reduction from an appeal shrinks, which makes the total assessed value increase more permanent. This makes it much harder to fight your taxes and ensure that you only pay your fair share. Other than talking with your local Cook County commissioner and urging them to take action, there is little remedy for these increases if they are made unfairly – and it’s unclear as to why assessed land values in these townships are changing to this extent.
We will continue to monitor Cook County assessed values so watch this blog as more details become available.