Cook County Assessed Values Continue to Decline

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For the sixth year in a row we have obtained and analyzed assessment abstract data from the Cook County Assessor’s Office. In each tax year since 2008 the County’s total assessed value has declined. The data from 2013, the most recently concluded tax year, shows that the rate of decline appears to be slowing. However, there were significant declines in the north suburbs, which were reassessed during in 2013. The decline in assessed values contributes directly to the increasing tax rates of school districts and other units of local government. 

Countywide assessed value has declined every year since reaching its highpoint in 2008.

  • Countywide assessed value declined by $1.7 billion or 3% between 2012 and 2013.
  • Since 2008, the County’s total assessed value has declined by $18.2 billion or 25%, with most of that decline being split between the north suburbs and the City of Chicago.

Suburban Township Assessed Value

The north suburbs were reassessed in 2013. As a result, the decline in assessed value was most dramatic there. However, every township in the County experienced a decline in assessed value between 2012 and 2013.

  • The assessed value of the northern suburbs declined by $1.4 billion or 8% between 2012 and 2013. Since 2008, the assessed value of the north suburbs has declined by $7.4 billion or 31%.
  • Seven townships in the north suburbs experienced losses of more than $100 million in assessed value between 2012 and 2013.

 Maine

 ($231,842,845)

13%

Wheeling

($178,425,566)

9%

Elk Grove

($138,572,504)

10%

Niles

($128,181,310)

8%

Schaumburg

($118,613,025)

8%

Northfield

($115,268,031)

7%

Palatine

($113,579,782)

10%

The assessed value for every suburban township by class of property between 2010 and 2013 is available by clicking on the links below.

The data presented is based upon final certified assessments after review and adjustment by the Cook County Assessor and Board of Review. Additional reductions may have occurred, after the extension and collection of taxes, if an assessment was appealed further to the Property Tax Appeal Board or to the Circuit Court of Cook County by the filing of a tax objection complaint.

For additional information on the data we have reviewed and our analysis, please contact the authors above.

Barrington

Leyden

Palos

Berwyn

Lyons

Proviso

Bloom

Maine

Rich

Bremen

New Trier

River Forest

Calumet

Niles

Riverside

Cicero

Northfield

Schaumburg

Elk Grove

Norwood Park

Stickney

Evanston

Oak Park

Thornton

Hanover

Orland

Wheeling

Lemont

Palatine

Worth

Assessed Value by Suburban Township

Barrington

 

2010

2011

2012

2013

Class 1 - All

19,200,013

17,031,985

17,071,369

11,623,971

Class 2 - All

370,185,333

363,987,564

358,935,139

346,726,235

Class 3 - All

1,707,620

1,332,992

1,904,180

1,860,764

Class 4 - All

2,611,877

2,611,877

2,611,877

2,249,474

Class 5 - All

242,162,366

219,930,822

213,641,534

204,436,275

Class 6 - All

598,110

926,964

1,003,179

1,100,949

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

212,271

163,293

163,293

163,292

Total

636,677,590

605,985,497

595,330,571

568,160,960

Berwyn

 

2010

2011

2012

2013

Class 1 - All

261,828

173,330

137,502

161,006

Class 2 - All

295,726,652

231,485,869

229,479,976

225,964,727

Class 3 - All

8,222,701

7,262,947

7,082,880

7,646,433

Class 4 - All

198,313

216,810

112,280

124,128

Class 5 - All

53,710,649

51,908,645

52,182,469

52,773,524

Class 6 - All

255,773

258,965

258,965

258,965

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

1,506,473

1,345,567

1,299,827

1,308,222

Total

359,882,389

292,652,133

290,553,899

288,237,005

Bloom

 

2010

2011

2012

2013

Class 1 - All

12,806,286

13,289,607

13,287,120

13,256,693

Class 2 - All

391,309,531

333,932,172

332,357,613

330,425,982

Class 3 - All

6,835,783

6,685,479

6,596,552

6,570,980

Class 4 - All

3,127,472

2,201,183

2,203,953

2,109,444

Class 5 - All

124,084,524

113,996,007

113,433,671

107,989,235

Class 6 - All

6,357,526

5,547,732

5,779,336

4,827,946

Class 7 - All

24,924

19,999

28,138

37,519

Class 8 - All

6,880,843

6,046,270

8,307,210

8,426,508

Class 9 - All

2,312,252

1,747,265

1,747,265

1,747,265

Total

553,739,141

483,465,714

483,740,858

475,391,572

 Bremen

 

2010

2011

2012

2013

Class 1 - All

12,946,546

10,519,022

10,135,187

9,551,175

Class 2 - All

647,143,346

540,942,129

535,160,707

527,840,736

Class 3 - All

14,152,943

12,143,337

12,253,268

11,895,779

Class 4 - All

2,919,604

2,368,934

2,366,214

2,311,027

Class 5 - All

177,781,732

172,446,685

165,383,734

160,165,444

Class 6 - All

3,027,448

3,260,604

3,330,462

3,272,376

Class 7 - All

0

0

0

0

Class 8 - All

3,732,080

4,476,709

4,638,014

4,142,836

Class 9 - All

1,493,416

1,376,799

1,363,464

1,363,464

Total

863,197,115

747,534,219

734,631,050

720,542,837

Calumet

 

2010

2011

2012

2013

Class 1 - All

1,363,256

1,244,325

1,048,009

1,090,801

Class 2 - All

65,293,565

52,559,203

52,074,967

51,275,117

Class 3 - All

5,367,065

4,444,684

4,282,716

4,161,627

Class 4 - All

0

0

0

0

Class 5 - All

30,142,918

23,960,521

23,582,026

23,818,542

Class 6 - All

924,576

695,978

695,978

675,348

Class 7 - All

0

0

0

0

Class 8 - All

1,754,521

3,529,105

3,509,815

3,471,999

Class 9 - All

1,860,522

1,698,095

1,526,444

1,361,779

Total

106,706,423

88,131,911

86,719,955

85,855,213

Cicero

 

2010

2011

2012

2013

Class 1 - All

1,259,257

1,291,890

1,959,986

2,109,912

Class 2 - All

267,592,125

177,932,198

176,519,324

174,100,183

Class 3 - All

8,349,044

7,621,548

7,226,536

7,137,297

Class 4 - All

49,739

44,766

44,766

44,766

Class 5 - All

92,360,301

90,583,194

87,084,255

84,511,947

Class 6 - All

2,091,487

2,929,297

4,191,409

5,229,900

Class 7 - All

0

0

0

0

Class 8 - All

1,554,462

1,531,281

1,538,712

1,470,061

Class 9 - All

1,612,258

1,348,934

1,361,628

1,368,473

Total

374,868,673

283,283,108

279,926,616

275,972,539

Elk Grove

 

2010

2011

2012

2013

Class 1 - All

10,712,373

9,782,510

9,410,096

7,738,844

Class 2 - All

694,576,121

684,895,596

676,954,728

581,742,203

Class 3 - All

49,613,174

39,295,900

39,650,275

39,799,925

Class 4 - All

2,975,273

2,866,077

2,651,500

2,661,467

Class 5 - All

698,169,261

674,926,530

644,105,733

598,014,818

Class 6 - All

33,665,564

37,536,917

41,636,653

46,069,776

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

2,259,999

2,222,009

2,222,009

2,031,457

Total

1,491,971,765

1,451,525,539

1,416,630,994

1,278,058,490

Evanston

 

2010

2011

2012

2013

Class 1 - All

4,051,666

3,934,261

3,681,358

1,648,849

Class 2 - All

772,836,161

761,357,884

748,227,803

673,377,411

Class 3 - All

63,480,906

50,377,505

49,071,149

52,869,076

Class 4 - All

11,072,469

10,852,481

10,852,481

11,457,359

Class 5 - All

184,675,166

177,721,530

169,778,305

170,016,789

Class 6 - All

87,998

192,035

215,509

99,505

Class 7 - All

324,573

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

792,550

778,216

778,216

637,663

Total

1,037,321,489

1,005,213,912

982,604,821

910,106,652

Hanover

 

2010

2011

2012

2013

Class 1 - All

13,157,243

11,603,710

11,016,576

9,326,987

Class 2 - All

656,714,891

648,590,324

637,540,125

566,098,284

Class 3 - All

7,636,511

5,801,508

5,827,862

6,085,032

Class 4 - All

0

44,837

44,837

44,837

Class 5 - All

171,469,716

161,545,031

157,048,261

150,980,303

Class 6 - All

3,019,560

3,472,120

3,829,568

4,589,003

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

2,345,344

2,302,612

2,229,682

2,149,772

Total

854,343,265

833,360,142

817,536,911

739,274,218

Lemont

 

2010

2011

2012

2013

Class 1 - All

10,638,594

7,663,218

6,780,233

6,703,347

Class 2 - All

283,560,041

248,724,496

247,338,590

246,054,847

Class 3 - All

1,137,481

1,146,383

986,561

988,756

Class 4 - All

483,226

658,208

639,765

558,528

Class 5 - All

51,346,630

49,439,908

48,013,324

47,379,904

Class 6 - All

0

0

0

0

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

0

0

0

0

Total

347,165,972

307,632,213

303,758,473

301,685,382

Leyden

 

2010

2011

2012

2013

Class 1 - All

9,079,495

7,245,985

6,827,988

5,727,226

Class 2 - All

582,912,052

577,585,154

571,619,665

490,210,249

Class 3 - All

15,510,513

11,795,231

11,398,857

12,606,525

Class 4 - All

5,513,890

5,513,890

5,513,890

6,057,555

Class 5 - All

578,283,117

568,835,203

544,128,865

530,970,445

Class 6 - All

26,779,257

32,553,882

31,003,028

38,367,022

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

593,560

511,898

499,208

476,861

Total

1,218,671,884

1,204,041,243

1,170,991,501

1,084,415,883

Lyons

 

2010

2011

2012

2013

Class 1 - All

18,658,473

12,432,828

12,305,373

12,296,874

Class 2 - All

1,243,556,969

1,026,016,786

1,016,279,289

1,007,195,546

Class 3 - All

24,280,224

20,625,741

19,865,150

19,083,970

Class 4 - All

3,986,988

3,532,288

3,509,793

3,263,466

Class 5 - All

367,468,897

355,004,119

347,937,651

344,847,217

Class 6 - All

22,287,066

22,370,815

25,693,193

25,833,442

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

4,177,807

3,993,420

3,991,166

3,935,780

Total

1,684,416,424

1,443,975,997

1,429,581,615

1,416,456,295

Maine

 

2010

2011

2012

2013

Class 1 - All

8,567,826

8,119,710

6,851,272

5,432,508

Class 2 - All

1,340,327,784

1,324,597,004

1,308,583,302

1,094,115,257

Class 3 - All

27,328,126

21,043,786

21,046,539

22,885,018

Class 4 - All

7,936,820

7,879,302

7,579,826

6,534,909

Class 5 - All

468,369,097

454,853,370

451,859,175

434,836,930

Class 6 - All

6,923,486

7,947,599

9,040,898

9,313,577

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

168,520

168,520

168,520

168,488

Total

1,859,621,659

1,824,609,291

1,805,129,532

1,573,286,687

New Trier

 

2010

2011

2012

2013

Class 1 - All

3,530,710

3,955,497

3,212,232

3,764,356

Class 2 - All

1,632,916,472

1,610,341,220

1,588,371,671

1,508,249,870

Class 3 - All

11,697,383

8,692,402

8,777,643

8,637,611

Class 4 - All

6,763,252

6,300,097

6,194,643

4,378,471

Class 5 - All

97,172,667

92,503,629

89,040,508

88,677,075

Class 6 - All

0

0

0

0

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

0

0

0

0

Total

1,752,080,484

1,721,792,845

1,695,596,697

1,613,707,383

Niles

 

2010

2011

2012

2013

Class 1 - All

6,414,302

7,213,856

6,578,856

4,133,816

Class 2 - All

1,070,171,982

1,053,668,456

1,034,179,972

930,253,030

Class 3 - All

13,874,661

10,156,323

10,803,693

14,073,131

Class 4 - All

12,400,548

12,257,793

11,637,321

8,332,856

Class 5 - All

680,422,139

645,367,088

632,780,149

610,207,444

Class 6 - All

6,195,335

6,465,381

6,456,480

7,347,816

Class 7 - All

385,873

385,873

385,873

360,148

Class 8 - All

0

0

0

0

Class 9 - All

829,704

964,544

964,544

897,337

Total

1,790,694,544

1,736,479,314

1,703,786,888

1,575,605,578

Northfield

 

2010

2011

2012

2013

Class 1 - All

14,306,365

15,446,287

13,935,806

11,018,361

Class 2 - All

1,465,719,911

1,445,456,393

1,430,112,342

1,330,714,802

Class 3 - All

14,458,734

12,098,564

11,813,025

12,270,022

Class 4 - All

19,474,017

19,485,740

19,485,793

17,836,993

Class 5 - All

651,461,541

633,464,623

629,645,636

612,331,462

Class 6 - All

6,267,771

6,624,505

6,822,525

5,235,907

Class 7 - All

0

0

0

7,107,875

Class 8 - All

0

0

0

0

Class 9 - All

653,812

653,812

653,812

685,486

Total

2,172,342,151

2,133,229,924

2,112,468,939

1,997,200,908

Norwood Park

 

2010

2011

2012

2013

Class 1 - All

1,107,596

888,866

1,046,079

550,361

Class 2 - All

265,195,861

261,426,711

258,295,178

223,251,160

Class 3 - All

8,063,378

6,291,927

6,095,939

6,011,082

Class 4 - All

1,399,657

1,399,655

1,399,655

1,420,328

Class 5 - All

81,459,205

78,612,563

77,515,037

73,603,943

Class 6 - All

0

0

0

0

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

0

0

0

0

Total

357,225,697

348,619,722

344,351,888

304,836,874

Oak Park

 

2010

2011

2012

2013

Class 1 - All

644,715

163,175

237,761

231,961

Class 2 - All

576,446,296

511,136,061

499,958,839

489,571,834

Class 3 - All

32,699,855

29,096,527

28,710,711

28,596,296

Class 4 - All

1,012,674

0

0

0

Class 5 - All

69,253,020

76,272,801

72,556,122

70,561,048

Class 6 - All

0

0

0

0

Class 7 - All

58,429

52,827

52,827

52,827

Class 8 - All

0

0

0

0

Class 9 - All

1,453,275

1,278,544

1,337,914

1,433,686

Total

681,568,264

617,999,935

602,854,174

590,447,652

Orland

 

2010

2011

2012

2013

Class 1 - All

10,204,437

9,219,844

9,515,001

8,968,791

Class 2 - All

1,048,971,485

912,410,676

904,217,200

897,224,470

Class 3 - All

4,770,751

3,934,655

3,781,308

5,484,493

Class 4 - All

3,106,426

2,366,661

2,300,219

2,163,535

Class 5 - All

306,006,517

298,158,210

292,993,618

292,133,566

Class 6 - All

1,892,912

1,632,730

1,592,727

1,580,540

Class 7 - All

0

0

0

0

Class 8 - All

0

0

25,645

55,895

Class 9 - All

994,949

590,749

590,749

590,749

Total

1,375,947,477

1,228,313,525

1,215,016,467

1,208,202,039

Palatine

 

2010

2011

2012

2013

Class 1 - All

8,108,749

7,578,692

7,395,056

4,615,944

Class 2 - All

1,096,263,013

1,079,112,471

1,067,075,224

969,193,805

Class 3 - All

35,365,055

27,446,775

27,308,261

28,622,900

Class 4 - All

1,164,244

1,164,244

1,225,068

1,174,813

Class 5 - All

267,901,297

262,755,524

255,398,392

241,338,194

Class 6 - All

1,913,805

1,951,175

1,873,414

1,698,896

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

1,906,174

1,810,365

1,810,365

1,861,446

Total

1,412,622,337

1,381,819,246

1,362,085,780

1,248,505,998

Palos

 

2010

2011

2012

2013

Class 1 - All

13,321,469

6,924,758

6,805,413

6,459,275

Class 2 - All

551,708,828

452,607,290

448,646,703

443,924,403

Class 3 - All

8,778,819

8,056,693

7,924,439

7,868,140

Class 4 - All

107,691

108,732

108,732

108,732

Class 5 - All

125,919,236

122,255,952

120,629,350

117,047,814

Class 6 - All

1,432,514

1,361,834

1,990,309

2,060,213

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

649,009

622,912

622,912

622,912

Total

701,917,566

591,938,171

586,727,858

578,091,489

Proviso

 

2010

2011

2012

2013

Class 1 - All

5,664,734

4,738,195

4,408,366

4,133,202

Class 2 - All

1,038,622,634

806,087,046

800,118,540

789,963,306

Class 3 - All

28,256,162

25,099,614

24,604,487

25,251,961

Class 4 - All

3,630,148

2,624,352

2,624,352

2,450,691

Class 5 - All

400,713,008

387,723,829

382,552,825

373,284,205

Class 6 - All

7,532,330

8,646,768

8,676,669

10,660,015

Class 7 - All

0

0

0

0

Class 8 - All

1,137,842

1,315,737

1,043,429

1,043,429

Class 9 - All

1,914,512

1,460,416

1,454,665

1,454,665

Total

1,487,471,370

1,237,695,957

1,225,483,333

1,208,241,474

Rich

 

2010

2011

2012

2013

Class 1 - All

13,428,217

12,726,983

12,394,595

11,662,520

Class 2 - All

453,148,919

389,421,023

383,930,084

377,314,688

Class 3 - All

12,129,606

11,356,007

10,723,318

11,133,904

Class 4 - All

3,885,799

2,925,338

2,925,338

2,756,623

Class 5 - All

129,315,117

120,762,821

117,289,851

110,571,821

Class 6 - All

3,526,756

4,141,451

4,137,151

4,137,151

Class 7 - All

0

0

0

0

Class 8 - All

3,577,656

3,664,827

4,530,669

4,826,430

Class 9 - All

2,789,959

2,260,195

2,260,195

2,101,421

Total

621,802,029

547,258,645

538,191,201

524,504,558

River Forest

 

2010

2011

2012

2013

Class 1 - All

125,872

109,760

63,649

52,402

Class 2 - All

213,898,045

186,202,895

182,713,838

178,750,394

Class 3 - All

987,923

787,967

797,265

757,393

Class 4 - All

3,622,268

2,283,831

2,283,831

2,210,189

Class 5 - All

16,616,537

15,133,159

15,278,470

15,160,165

Class 6 - All

0

0

0

0

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

0

0

0

0

Total

235,250,645

204,517,612

201,137,053

196,930,543

Riverside

 

2010

2011

2012

2013

Class 1 - All

214,940

83,729

78,957

511,811

Class 2 - All

188,213,422

164,126,983

160,960,108

158,346,993

Class 3 - All

3,144,733

2,738,558

2,681,930

2,735,478

Class 4 - All

1,688,335

1,124,757

1,125,394

1,071,093

Class 5 - All

51,034,134

48,280,928

46,597,547

44,995,582

Class 6 - All

0

0

0

0

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

92,877

98,830

98,830

98,830

Total

244,388,441

216,453,785

211,542,766

207,759,787

Schaumburg

 

2010

2011

2012

2013

Class 1 - All

11,467,509

11,529,362

11,444,103

8,260,735

Class 2 - All

969,974,139

959,186,987

948,528,721

841,567,049

Class 3 - All

50,328,181

38,650,447

38,409,499

43,154,110

Class 4 - All

3,592,376

3,577,491

3,577,797

3,037,707

Class 5 - All

742,893,819

725,475,017

713,539,054

699,925,163

Class 6 - All

8,813,945

8,727,029

9,827,333

10,768,718

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

0

0

0

0

Total

1,787,069,969

1,747,146,333

1,725,326,507

1,606,713,482

Stickney

 

2010

2011

2012

2013

Class 1 - All

4,219,114

1,975,045

1,811,889

1,736,435

Class 2 - All

268,552,471

213,078,457

211,570,665

205,623,474

Class 3 - All

3,771,978

3,432,304

3,429,698

3,397,539

Class 4 - All

550,796

518,192

496,234

496,234

Class 5 - All

203,317,717

193,468,881

190,101,327

185,292,210

Class 6 - All

23,755,782

21,923,889

22,625,706

21,867,643

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

77,798

68,619

68,619

68,619

Total

504,245,656

434,465,387

430,104,138

418,482,154

Thornton

 

2010

2011

2012

2013

Class 1 - All

15,868,441

15,211,465

14,508,629

14,635,143

Class 2 - All

667,011,619

541,636,114

537,814,465

531,816,602

Class 3 - All

16,817,592

15,312,621

14,954,605

14,803,003

Class 4 - All

3,299,430

2,116,692

2,116,692

2,014,993

Class 5 - All

314,993,837

298,919,081

290,398,366

279,905,631

Class 6 - All

8,712,673

9,398,532

9,567,500

9,317,508

Class 7 - All

115,529

111,362

138,019

178,407

Class 8 - All

12,415,902

12,807,342

12,386,598

13,224,861

Class 9 - All

6,297,054

5,552,630

5,433,220

5,245,192

Total

1,045,532,077

901,065,839

887,318,094

871,141,340

Wheeling

 

2010

2011

2012

2013

Class 1 - All

9,861,137

8,453,758

7,750,413

6,088,950

Class 2 - All

1,446,235,060

1,425,783,732

1,403,738,313

1,244,358,958

Class 3 - All

50,742,684

38,499,579

39,122,299

39,441,456

Class 4 - All

4,331,381

4,331,381

4,331,381

4,797,871

Class 5 - All

480,876,564

474,173,678

466,609,953

447,260,561

Class 6 - All

13,346,821

12,917,488

12,810,810

13,865,586

Class 7 - All

0

0

0

0

Class 8 - All

0

0

0

0

Class 9 - All

1,629,575

1,573,686

1,573,686

1,697,907

Total

2,007,023,222

1,965,733,302

1,935,936,855

1,757,511,289

Worth

 

2010

2011

2012

2013

Class 1 - All

8,657,541

5,994,765

6,566,487

6,012,267

Class 2 - All

1,083,722,479

879,721,310

871,292,224

862,093,944

Class 3 - All

27,132,152

25,340,123

24,535,462

24,093,633

Class 4 - All

3,703,627

3,425,532

3,425,532

3,268,653

Class 5 - All

425,350,240

409,176,330

396,281,674

397,728,701

Class 6 - All

12,487,183

10,659,796

10,525,828

10,568,086

Class 7 - All

328,488

334,232

334,232

489,725

Class 8 - All

42,241

58,634

58,634

58,634

Class 9 - All

1,932,172

1,626,228

1,711,819

1,665,463

Total

1,563,356,123

1,336,336,950

1,314,731,892

1,305,979,106

 

Topics:  Property Tax, Tax Assessment

Published In: Commercial Real Estate Updates, Residential Real Estate Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Franczek Radelet P.C. | Attorney Advertising

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