💰 Cook County Property Tax Shock: Why Your Bill Spiked and 3 Steps to Get Tax Relief

Chicago Real Estate Agent
12 minutes ago
4 min read

Your Cook County Property Tax Bill Is Up—Here’s Why

The recent Cook County median property tax bills have seen a substantial increase, the largest in decades for some areas. This sharp increase in residential bills is largely due to a shift in the tax burden following the city's latest reassessment.

The two major factors driving this spike are the decline in downtown commercial property values and the surge in residential assessment values.

Cook County Property Tax Increase and What You Can Do to Lower Your Tax

Factors Driving the Record Cook County Tax Increase

Decline in Downtown Commercial Property Values: The value of commercial real estate in the Loop (office buildings, retail) has fallen significantly, largely due to the shift to remote work post-pandemic. This drop in commercial taxes, sometimes lowered further by successful appeals, effectively shifts the tax burden onto other property classes, including residential homes.
Residential Assessment Spikes: The 2024 reassessment of Chicago properties showed a surge in residential home values. For properties in some South and West Side neighborhoods, the median tax bill increase exceeded 50%.
Rising Tax Levies (Higher Budgets): Local governmental bodies, including Chicago schools, have increased their overall demand for property tax funding to cover their budgets, which includes pension obligations. Overall, Cook County taxpayers had to cover an extra $528.6 million this year for local governments.

3 Immediate Steps to Seek Cook County Property Tax Relief

If you feel your assessment is inaccurate or you are missing savings, you have options to appeal and claim exemptions to receive cook county property tax relief.

1. Filing an Appeal (Contesting Your Property's Value)

This step directly addresses the assessed value of your home, which is a core component of the tax bill.

What to Appeal: You appeal the assessed value of your property, not the total tax bill itself. The appeal process requires providing evidence that your property's value is higher than comparable homes in your neighborhood.
Where to Appeal: You generally have two opportunities to appeal your assessment each year:
- Cook County Assessor's Office (CCAO)
- Cook County Board of Review (BOR)
Crucial Deadlines: Each township has a brief 30-day window for filing appeals, so homeowners must check the specific deadlines for their area on the CCAO or BOR websites.

2. Claiming Eligible Exemptions (The Key to Savings)

Exemptions are key savings that directly lower your tax bill. Check your property details to ensure all eligible exemptions are applied.

Exemption Type	Eligibility Criteria	Status & Application Notes
Homeowner Exemption	Must own and occupy the property as your principal residence.	Saves approximately $750 dollars annually; typically auto-renewed. New homeowners must apply.
Senior Exemption	Must be age 65 or older and occupy the property as your principal residence.	Auto-renews once applied.
Senior Freeze	Must meet Senior Exemption requirements and have a total household annual income of $65,000 or less (2022 income for 2024 tax year).	Provides significant savings by "freezing" the property's assessed value.
Veterans with Disabilities	Available for qualifying veterans.	Requires annual application (check CCAO for details).

3. Filing a Certificate of Error (CofE) for Past Savings

A Certificate of Error is the process used to redeem past tax savings if an eligible exemption was not applied to your bill in previous tax years.

Purpose: The CofE is used for missing exemptions (like Homeowner or Senior Exemption) or factual errors.
Reclaim Period: You may be able to file a CofE to claim exemptions for up to four prior tax years (e.g., 2021, 2022, 2023, and 2024).
Action: If you paid the original amount due, you would receive a refund check from the Cook County Treasurer's Office once the CofE application is processed.

Connect with a Local Chicago Real Estate Expert

If the recent Cook County reassessment has made you question your property's current value or if you are considering selling your home to capitalize on the reported value spikes, expert guidance is key. As a trusted local real estate agent, I can provide a complimentary, in-depth analysis of your property's assessment relative to current market conditions. Contact me today for a strategic discussion on your property's true value in the current Chicago real estate market.

Action Plan & Next Steps

I strongly encourage you to review your property tax details and contact the Cook County Assessor's Office or Cook County Board of Review to ensure you are receiving all eligible savings and to explore the appeal process if you feel your assessment is unfair.

Cook County Assessor's Office (CCAO): Find information on exemptions, filing appeals, and resources.
Cook County Board of Review (BOR): For information on residential and commercial appeals.
Cook County Homeowner Relief Fund: Homeowners facing an increase of 30% or more may be eligible for a one-time $1,000 payment, provided they meet income requirements. Note: Check current application deadlines.