Property Tax Reduction Blog
Commercial Values in Oak Park Township Experienced an Astounding Rise of 17.3%, Residential Values Sustain Minimal Increase of 0.4%.
The residential property market values of property proprietors in Oak Park Township, Cook County, experience an annual increase in market value. From $6.62 billion in 2023 to $6.64 billion in 2024, the residential property market in Oak Park Township experienced a slight increase of 0.4%. The properties with the most significant value increase of 4.18% were in the $1.5 million or higher value range. A comparatively modest increase was observed in residences of lesser value, while the most significant increases were observed in residences of higher value. For example, the value of residences valued at $250k or less increased by 0.02%. A 0.36% increase was observed for properties valued between $500k and $750k. Commercial properties in Oak Park Township have encountered a substantial increase in value in accounts, in contrast to residential properties. By 2024, commercial values experienced a large increase of 17.3%. In 2024, the total value of commercial property... Read More
Commercial Values in New Trier Township Experienced Extraordinary Rise of 9.4%, Home Values See a Modest Increase of 1.3%.
The residential property market values of property owners in New Trier Township, Cook County can increase annually. In 2024, the residential property market value in New Trier Township saw a slight increase of 1.3%, increasing from $19.7 billion in 2023 to $19.9 billion. The properties with the most substantial value increase of 3.2% were within the $1.5 million or higher value range. The most significant increases were observed in residences of higher value, while those of lower value experienced a relatively modest increase or even slight decreases. For instance, the value of residences between $250k and $500k experienced a decline of 0.1%. In contrast to residential properties, commercial properties in New Trier Township have experienced a substantial increase in value in accounts. Commercial values encountered an extraordinary 9.4% increase by 2024. The average assessment of commercial property in New Trier Township of Cook County was 13.6% in 2024, and the property’s... Read More
Lyons Township Residential Values increased by 0.6%, while Commercial Values skyrocketed by 6.7%.
Annually, residential values rise in Cook County for property owners. Residential property in Lyons Township had a 0.6% increase illustrating the growth from $14.8 billion in 2023 to $14.9 billion in 2024. The lowest value houses with a range of $1MM to $1.5MM had a great assessment increase between 2023 and 2024. Residential property owners of homes greater than $1.5MM saw the highest increase in value of 7.5%. In contrast to homes, commercial property had an inflated value increase in accounts in Lyons Township. By 2024, commercial values had tremendous growth of 6.7%. In 2024, the average assessment for commercial property in Lyons Township of Cook County was 9.2%, with a value exceeding $1.5 million. Owners of commercial properties valued between $500k to $750k had one of the highest increases of 2.5%. The data indicates a substantial rise in the assessment for Lyons Township in Cook County, Illinois. First things first: before protesting the assessment... Read More
Maine Township in Cook County Sees Residential Values Barely Budge, Commercial Assessments Up 6.3%
The residential property values of property owners in Maine Township, Cook County, experienced a negligible increase between 2023 and 2024. The value of the residential property market in Maine Township increased by 0.5% in 2024, from $15.6 billion in 2023 to $15.7 billion. Higher market value properties had the highest increase percentage. The properties with the highest value increase of 5.6% had a value range between $1 million and $1.5 million. The second highest percentage increase with 4.5% belongs to houses with a market value exceeding $1.5 million. The value of commercial properties in Maine Township has grown drastically in comparison to residential homes. The commercial values increased by 6.3% by 2024. The residences with greater market values saw the largest rises. For commercial properties valued more over $1.5 million in Maine Township in 2024, the maximum value increase was 7.6%. The owners of commercial properties with a $1 million to... Read More
Calumet Township Homeowners Experienced a Slight Increase, Commercial Values Rise 4.4%
Between 2023 and 2024, there was a barely perceptible increase in the residential property values for most property owners in Calumet Township, Cook County. In 2024, the residential property market in Calumet Township saw a 0.1% increase in value, rising from $676 million in 2023 to $677 million. The properties with the lowest value increase of 0.2% had a value range exceeding $250,000. In contrast to residential properties, the value of commercial properties in Calumet Township has increased more significantly. By 2024, commercial values experienced a 4.4% increase. The most significant increases were observed in homes with a higher market value. In 2024, the maximum assessment of commercial property in Calumet Township was 14% for properties with a value exceeding $1.5 million. Owners of commercial properties valued between $1 million and $1.5 million experienced the second largest increase of 4.1%. The data shows that residential assessments in Calumet Township, Cook County,... Read More