September 30, 2019
Click here to read the full report.
Click here to read the press release for this analysis.
MAJOR FINDINGS
This report provides an estimate of the full market value of property in Cook County between tax years 2008 and 2017 using data provided by the Cook County Assessor and the Illinois Department of Revenue.
The full market value of real estate in Cook County was approximately $585.8 billion in tax assessment year 2017. Tax year 2017 is the most recent year for which data are available. The 2017 total value estimate represents an increase of $26.1 billion, or 4.7%, from the 2016 estimated full value. However, the 2017 full value of real estate is still $30.4 billion lower than it was in 2008. Prior to 2006, the estimated full value of real estate in the City of Chicago and suburbs grew every year going back to at least 1995. In 2007 real estate values began to decline, hitting a low point in 2012. The 2017 estimates represent the fifth year in a row in which real estate values in Cook County increased after six straight years of decline.
In addition to Cook County as a whole, the report estimates the full market value of real estate in the City of Chicago, north Cook County suburbs and south Cook County suburbs. The map below shows Cook County townships by triad assessment district. The estimated full market value of real estate in the City of Chicago increased by 4.4% in tax assessment year 2017 while the northwest and southwest suburbs experienced increases of 4.0% and 6.6%, respectively.
The report also breaks down the estimated full value of property by assessment class for Chicago and the suburbs and for the County as a whole. The estimated full value of all major classes of property in every assessment district fell between 2008 and 2017, except residential property within the City of Chicago, which increased 0.7%. Between 2008 and 2017 the estimated full value of property in Cook County as a whole declined by 4.9%.
Click here to read the full report.
Click here to read the press release for this analysis.