Assessor site connects homeowners with data used to determine property taxes

Chicago homeowners can now instantly view their property’s construction details, appraisal history and recent home sales in their neighborhood by tapping into a new Cook County database.

Oct 5, 22 – Cook County Assessor Fritz Kaegi unveiled a searchable database that displays a greater level of information for each property located in the suburbs of Chicago and Cook County.

“A homeowner can now visit the appraiser’s website, enter their Property Index Number (PIN) or address, and get information such as estimated market value, appraised value, and property features,” said Scott SmithDirector of Communications for the Cook County Assessor’s Office.

Noteworthy features include information on permits, parcel divisions and consolidations, and exemption for homeowner’s improvements.

Another feature is the Neighborhood Sales feature, which provides current real estate information that can be viewed and printed, Smith noted.

“This function generates a list of real estate transactions in a property’s neighborhood code for the past 36 months,” Smith (left) said. “This information is useful for property owners who are considering appealing or want to understand the market value of properties in their neighborhood.”

Much of the work of appraiser staff is accomplished using digital tools, including the automated appraisal model. AVM is associated with package universe to enable convenient spatial analysis and mapping of sales, which can be joined to historical estimated values ​​for ratio studies, notes the Open Data site.

Here are some basic facts about how the appraiser does their job:

• It is important for landlords to understand the current real estate market in their neighborhood. Appraisals, under Illinois law, must be consistent and accurately reflect market values.

• If a homeowner believes their property is worth less than the Appraiser’s Office estimate, the homeowner has the right to file an appeal.

• Appeals can be filed once a year during a specific period which can be found on the Assessment Schedule and Deadlines page of the Assessor website. A taxpayer can file with the Cook County Board of Review and later with the Illinois Property Tax Appeals Board.

“Landlords often ask,” according to Smith, “what is the difference between market value and appraised value? Estimated market value is what the appraiser’s office estimates a property is worth in today’s real estate market. assessed value is the amount used to calculate your property taxes.”

For residential properties, this is usually 10% of the estimated market value. For commercial properties, this is usually 25% of the estimated market value.

Neighborhood boundaries

Owners can learn more about the new enhancements by downloading a guide or attending an upcoming virtual workshop. For tips on how to navigate appraiser property details and to read frequently asked questions, visit the Cook County Open Data site. Assessor’s Office datasets can be viewed and downloaded online at: www.cookcountyassessor.com/opendata

Owners are also invited to participate in a virtual workshop to learn more about the enhanced property details that can be viewed. The Office of the Assessor will be doing a live demo, viewable on Facebook and YouTube, and answering questions at noon on Wednesday, October 5.

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