Assessor moves to ensure property values reflect ‘coronavirus effect’

BY RACHEL HINTON, STAFF REPORTER rhinton@suntimes.com | @rrhinton Knowing many residents are facing economic uncertainty from the coronavirus pandemic, Cook County Assessor Fritz Kaegi said Friday that all homes, businesses and other real estate parcels could see their property values adjusted due to COVID-19’s effect on the market. The first-term assessor said analysts in his office are looking for data from natural disasters and

Study: Illinois has 2nd highest property taxes in the nation

SPRINGFIELD, Ill. (WICS/WRSP) — A new study says Illinois’ property taxes are higher than most states in the country. The study by WalletHub compared the 50 states and the District of Columbia by using U.S. Census Bureau data to determine real-estate property tax rates. For real-estate property tax rates, they divided the “median real-estate tax payment” by the “median home price” in each state.

Crain’s Chicago Business: Predicting Commercial Property Taxes…maybe?

Crain’s Chicago Business (December 11, 2019) Cook County Assessor Fritz Kaegi has an answer to landlords who complain he’s killing the local real estate investment market. He’s given it a name that only a data junkie could love: the property tax rate simulator tool. Kaegi’s office unveiled the computer gizmo to commercial real estate professionals today, part of a broader push to help them