The 2018 Reassessment for the City of Chicago is now underway.  Since 2009, the property tax rate has risen from 4.6 percent to 7.1 percent, resulting in an increase of tax payment to about $7.10 for every $100.00 in equalized assessed value.  Assessment Notices are scheduled to be mailed out for Lake Township on July 27, 2018.  West Township on August 24, 2018, North Chicago Township on September 14, 2018 and South Chicago Township on October 5, 2018.

Once the Reassessment Notices are mailed out, property owners have approximately 30 days to file an appeal with the Assessor’s Office.  If the Assessor’s Office agrees with the property owner’s contention of value, the proposed assessment will be reduced.  The appeal process, however, does not end with the Assessor’s Appeal.  Once the Assessor publishes the final reduced values for a township, a property owner may then file with the Cook County Board of Review.  This process is a bit different in that a representative of the property owner may present arguments to the Board of Review.