By Don DeBat

Apr. 14, 2025 – With little relief coming from Cook County Assessor Fritz Kaegi, tax-battered property owners in Chicago and the suburbs are turning to the Cook County Board of Review (CCBOR) for help.

For 2024, the CCBOR – the second step on the tax appeal ladder – has received a record number of property tax appeals, involving a nearly 41 percent increase in the total of Property Index Number (PIN) applications as compared with the 2023 tax year. Appeals filed for tax year 2024 increased by 11 percent over tax year 2023.

The unprecedented volume of 273,907 property tax appeals filed with the CCBOR for 2024 has presented the biggest challenge in the agency’s history – a challenge it continues to meet, as more than half the appeals have already been finalized.

The surge of homeowners, businesses, and landowners seeking fairness and accuracy is largely due to significant increases in property valuations across commercial and residential sectors in Cook County.

“The Cook County Board of Review plays a crucial role among the checks and balances in the property assessment and taxation system,” said Commissioner Larry Rogers, Jr. (left), chairman of the CCBOR.

“In more than 20 years on the Board, I have never seen a more important time for property owners to avail themselves of their right to appeal. We have improved performance amid record-setting appeals by improving efficiency while keeping costs stable,” he said.

As a quasi-judicial body, the Cook County Board of Review’s mission is to serve property owners through the appeal process. Taxpayers file an appeal with the Board citing their reasons for a reduction. Then the Board reaches a decision for each individual property based on all facts and data presented. The appeal process is now more critical than ever because of the increases in assessments by the Cook County Assessor’s Office.

Assessed property values have soared billions of dollars

According to the Cook County Assessor’s final Chicago Reassessment Data for 2024, the total assessed property value in Cook County has increased by 23 percent, or $9.5 billion, soaring from $41.3 billion to $50.8 billion. A major reason for this jump has been an increase in commercial property assessments.

Meanwhile, homeowners – especially in the south suburban neighborhoods and parts of Chicago – have seen their properties impacted by sharp increases in assessed value, thus resulting in higher tax bills. In addition, commercial properties, particularly in revitalized neighborhoods and near infrastructure developments, have experienced the largest assessment increases.

Along with the rise in property values, the Cook County Assessor’s Office has implemented significant increases in land value assessments as part of the 2024 reassessments, affecting both residential and commercial property owners.

“A notable issue concerning errors in land assessments, especially in the south and west suburbs has contributed to the overall changes affecting property taxes in each community,” said Commissioner George Cardenas (right) of Board District 1.

“The most recent south suburban reassessment revealed land value assessment increases of 650 percent or more. The CCBOR addressed numerous inaccuracies, which could have led to erroneous local government tax levies, and increased mortgage escrows for homeowners,” said Cardenas.

For the 2023 tax year, reports revealed that the land values for more than 4,000 properties were miscalculated, leading to inflated assessments and dramatic tax increases. Assessor Kaegi acknowledged these errors and worked to correct them.

Despite these corrective actions, many homeowners and business owners remain concerned about rising land assessments, particularly in areas of rapid development.

The volume of increases in property values has placed a higher financial burden on property owners, leading to a record-breaking influx of Certificates of Error filings and appeal filings to the CCBOR.

“The recent independent study commissioned by the Cook County Board President’s Office affirmed that our valuation approach is robust, as we utilize key data, such as tax loads and property-specific information, that should be used in the valuation process by the Assessor’s Office,” Commissioner Rogers advised.

Stay informed on appeal status, advises Board of Review

As the Cook County Board of Review works diligently amid the unprecedented volume of appeals for the 2024 tax year, property owners are encouraged to stay informed about the status of their appeals and the final assessed valuations of their properties.

“With significant increases in property values, it is crucial that taxpayers have the confidence and knowledge to effectively contest their assessments,” said Commissioner Samantha Steele (left) of the Board of Appeals’ District 2.

“We remain committed to expanding accessibility through education and outreach, ensuring all residents and businesses have the support they need to navigate the appeals process,” Steele said.

Chicago real estate tax appeal attorney Michael Griffin (right) noted, “The main engine that drives up property tax bills is the amount of money spent by local government. Homeowners who read their 2024 tax bills will see the continued increased spending for schools and police, firefighter, and teacher pensions.”

Griffin advises that property owners who think they are over-assessed should appeal now. There are three steps on the tax appeal ladder:

• Visit the Assessor’s website at www.cookcountyassessor.com or call 312-443-7550 to find comparable properties or start the appeal process. The Assessor has just started the 2025 appeals process in which the north suburbs are being reassessed.

• Homeowners and business owners also are urged to file with the Cook County Board of Review. Visit www.cookcountyboardofreview.com or call 312-603-5542 for information.

• After the Board of Review appeal, the last resort is to file with the Illinois Property Tax Appeals Board, which may be contacted at www.ptab.illinois.gov or 217-785-6076.

Or, for more professional advice, call Michael Griffin, an expert tax-assessment lawyer, at 312-943-1789.