Residential Assessment Surges
The residential property values of property owners in Cook County, Berwyn Township increase annually. The residential property market in Berwyn Township experienced a modest increase of 0.4% in 2024, rising from $3.54 billion in 2023 to $3.56 billion. The houses with the most significant value increase of 9% had a value range of $500k to $750K. Higher value homes had the lowest increases, while lower value homes had a high increase. For example, homes ranging in value from $250k to $500k had an increase of 0.32%.
Commercial Values Gain Even More Pronounced
Commercial properties in Berwyn Township have encountered a great increase in value in accounts, as opposed to residential properties. By 2024, commercial values experienced an extraordinary 3.8% increase. In 2024, the average assessment of commercial property in Berwyn Township of Cook County was 5.1%, and the value of the property surpassed $1.5 million. Owners of commercial properties valued between $1 million and $1.5 million experienced the greatest increase of 6.5%. The most significant increases were observed in homes with a higher market value.
What Can Property Owners Do?
The data indicates that the assessment for Berwyn Township in Cook County, Illinois, has increased greatly. Before protesting the assessment value, property owners must initially consider whether they are eligible for any exemptions. Cook County residents can save money each year by applying for property tax exemptions if they are approved. Property owners may find the appeals procedure to be confounding, but O’Connor can help. O’Connor works in conjunction with renowned property tax specialists to guarantee that the most reliable evidence is employed to substantiate requests for tax reductions and unequal appraisals. O’Connor and his team of property tax attorneys endeavor to minimize their clients’ property tax expenditures by investigating all feasible alternatives.