![]() ![]() Illinois can improve its assessment process by replacing fractional assessment with assessment at full market value. The other counties studied also had some instances of regressivity, though not to the extent that Cook County did.Ģ. ![]() In short, wealthier property owners in Cook County tended to catch a break in their assessed values, while poorer property owners did not. This means owners of higher-value residential, commercial and industrial property had lower levels of assessed value than owners of less expensive property. All of the counties studied were outside accepted standards in at least some instances, though.Ĭook County also showed considerable regressivity in its assessments, according to IDOR information. Data from the Illinois Department of Revenue, or IDOR, show Cook County performed worst on uniformity of assessments among similar properties, compared with DuPage, Lake and St. Properties with comparable features located in similar areas should have roughly the same assessed value. Cook County performed worst on measures of assessment accuracy and fairness, but each county studied fell outside accepted standards in some cases. The Institute then studied the extent to which state assessment laws make the system less fair and more complicated than it should be. To get a glimpse at property tax assessments in some of Illinois’ most populous counties, the Illinois Policy Institute examined data for Cook, DuPage, Lake and St. While property values themselves shouldn’t raise or lower the overall level of property taxes in a given locale, Illinois’ property assessment laws and practices do affect individuals’ property tax bills, and inaccurate or unfair assessments can mean that some homeowners shoulder more of the property tax burden than they should. The assessment process determines how that burden is distributed among property owners. Illinoisans shoulder one of the highest property tax burdens in the nation. ![]()
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