Coronavirus Crisis Changes Cook County Property Tax Assessments

CHICAGO — The Cook County Assessor's Office announced updates to its assessment and appeals process in response to the coronavirus pandemic. Normally, a third of Cook County is reassessed in any given year. But due to the impact of COVID-19 on property values, the assessor announced adjustments are planned across the county.

"This is an unprecedented crisis and we're taking necessary steps to address it," Fritz Kaegi said in a release. "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."

The scheduled reassessments of the southern and western suburbs are set to continue as normal, while south suburban townships that have yet to receive reassessment notices will get notices in the mail reflecting the estimated economic impact of the coronavirus on the value of their property, according the release.

Properties in Chicago and the north suburbs, which were not scheduled for reassessments, and west suburban properties that have already gotten notice of their reassessed value, will have the impact of COVID-19 on their property reviewed after the appeal process, the release said.

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Due to the triennial assessment schedule, only properties with permits or other special applications are normally reassessed more than once every three years.

"We know property values were affected by the events of 9/11 and the 2008 housing crisis," Kaegi said. "We're already seeing the effects of this global health crisis on hiring, income, and construction — all of which dovetail with real estate values. Property owners should know we're taking these circumstances into account. It's the right thing to do."

Last month, Kaegi's office announced the suspension of assessment notices and appeal deadlines as its staff shifted to remote work.

According to an April 14 announcement, appeals are due May 1 for the following townships: Barrington, Evanston, Norwood Park, River Forest, Riverside, Rogers Park, New Trier, Oak Park, Palos.

Appeal deadlines for other townships will be posted at the assessor's office website. Information about COVID-related property value adjustments will be mailed to all property owners, regardless of whether they filed an appeal after the appeal deadline.

Property owners do not need to file an appeal for the office to review its value, according to the assessor's office.