Residential Assessments Decrease 12.9% in Lemont Township

The median assessed value of residential properties in Lemont Township dropped about $2,000, according to Cook County Assessor Joseph Berrios.

The Assessor's Office mailed reassessment notices this week to nearly 7,000 single family homeowners and 250 condominium owners, Berrios announced Monday.

Each year, Cook County reassesses one-third of the nearly 1.8 million parcels of property located within county boundaries, Berrios stated in a press release. This year, properties are being reassessed in 17 townships located in south and west suburban Cook County.

According to the release, the following findings resulted from the Lemont Township reassessment:

• Lemont is the 11th of 17 south suburban townships to receive reassessment notices;

• The median assessed value of Lemont Township residences fell to $34,092 in 2011 from $38,346 in 2008—a percentage change of 12.9 percent;

• The median sale price for single-family homes and other non-condo residential properties fell to $344,000 in 2010 from $352,250 in 2009—a decrease of 2.3 percent;

• The proposed assessments of condominiums in Lemont Township reflect a median decrease of 11 percent in assessed value.

In addition to standard assessment information, the redesigned notices now includes an estimated fair market value, an assessment history of the property, transactions from the Record of Deeds Office, a history of tax payments and a photo of the property.

The release states that the reassessment notices contain proposed values that will be reflected on second-installment tax bills, which are due in the fall of 2012.

Once reassessments are received, homeowners are entitled to file an appeal on the proposed assessments. The deadline for filing appeals in Lemont Township is Thursday, Aug. 25.

"Our goal at the Assessor's Office is to ensure that all property owners are equitably assessed," Berrios stated in the release. "I encourage all homeowners to review their assessment notices carefully to be certain their proposed assessments are fair and accurate."

According to the release, taxpayers may use Berrios' website to check their property's characteristics, as well as search for information on similar properties should they choose to file an appeal.

For more information, visit www.cookcountyassessor.com.