Cook County - City of Chicago Triennial Reassessment for 2018

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. 

Clark Hill is able to represent property owners during this reassessment year.  Sean Fitzgerald,  a Member in the Litigation Group, began practicing law in 1985 as a Cook County Assistant State’s Attorney assigned to the Chancery Unit and the Real Estate Tax Unit.  When he moved to the private sector, he has continued to represent commercial property owners challenging tax assessments.  He has appealed a variety of commercial properties from large commercial office buildings; manufacturing facilities; financial institutions; to private golf courses located throughout Cook County.  Sean was former chair of the State of Illinois Bar’s Committee on State and Local Taxation.  He has represented clients throughout every stage of an assessment appeal including before the Cook County Circuit Court and the Illinois Court of Appeals.

Chad Poznansky is a Member in the Real Estate Practice Group.  Chad has extensive experience in real estate acquisitions in Illinois, including acquisitions and dispositions of multifamily apartment buildings, condominium properties, vacant land, office buildings, shopping centers and hotels.  Chad also has significant experience in retail and condominium developments.  He also has advised clients on office and retail leasing matters.  Chad has been named a Top 100 Emerging Real Estate Lawyer by Leading Lawyers Magazine, 2018.

For a review of your real estate tax circumstances or assistance on appealing your real estate taxes, please contact Sean or Chad.  Sean Fitzgerald can be reached at 312-360-2504.  Chad Poznansky can be reached at 312-985-5531.