Property taxes are often one of a company's largest recurring operating expenses. The Cook County Assessor's Office reassesses the properties in a township on a triennial cycle – once every three years. Once established in a reassessment, the property assessment is generally unchanged for the final two years of the triennial cycle and directly impacts the property tax liability.
Below are upcoming reassessment townships for 2017 and the estimated assessment notice mailing dates:
- March 21, 2017: Cicero Township
- April 3, 2017: Palos Township
- April 17, 2017: Bremen Township
- April 28, 2017: Berwyn Township
- May 8, 2017: Lemont Township
- May 25, 2017: Lyons Township
If warranted, an appeal must be filed within 30 days of the assessment notice mailing date. A successful appeal in a reassessment year may result in up to 3 years of property tax savings. Any errors identified in prior years can be corrected and may result in property tax refunds.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
