Assessor Joseph Berrios talks about the phasing out of the 7% tax cap and his legislative initiatives in Springfield.

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June 30, 2009		Department of Communications
	For Taxpayer Assistance call:		312-443-7550

Reassessment Notices for Rogers Park Township Mailed

Median Residential Assessments Drop 6%, Median Home Sale Prices Decrease $35,000 from Last Reassessment

Chicago – June 30, 2009 – Cook County Assessor James M. Houlihan announced that reassessment notices were mailed today to more than 20,000 residential property owners in Rogers Park Township. The notices reflect widespread declines in assessed value for most types of residential property.

"Our goal at the Assessor’s Office is to ensure that all property owners are equitably assessed," said Cook County Assessor Jim Houlihan. "I encourage all homeowners to review their reassessment notices carefully to be certain their proposed assessments are fair and accurate."

Each year, the Cook County Assessor’s Office reassesses one-third of the nearly 1.8 million parcels of property located in Cook County. This year, the Assessor’s Office is reassessing properties in the eight townships located within the City of Chicago.  Rogers Park is the first city township to receive notices in the 2009 reassessment cycle.

Among the findings from the Rogers Park Township reassessment:

The median assessed value for single-family homes and other non-condo residential properties fell to $37,142 in 2009 from $39,519 in 2006 – a decrease of 6.06%.

The median sale price for single-family homes and other non-condo residential properties decreased to $375,000 in 2008, from $410,000 in 2005.

These results reflect the overall slowdown in the real estate market; individual homeowners could see their assessments increase in spite of the general trend. Though the decline in certain property types has reduced assessed values to pre-2006 levels, some properties have not experienced as rapid a decline owing to market increases in 2006 and 2007. Condominiums in Rogers Park Township will see a 3% median increase in assessed value.

A homeowner may compare his or her assessment with those of similar homes. Residential data on comparable properties is available on the Assessors’ enhanced and newly-redesigned Web site, located at (www.cookcountyassessor.com).

Reassessment notices contain proposed values that will be reflected on second-installment tax bills due in the fall of 2010. The deadline to file appeals for properties located in Rogers Park Township is July 31, 2009.

Assessor Houlihan’s Web site allows taxpayers to search for information using a 14-digit Property Index Number (PIN), or by typing in an address. Homeowners can check their property’s characteristics, as well as search for information on similar properties to use if they choose to appeal their assessments. Another Web site feature allows taxpayers to pull up a picture of any property within the county.

For appeal information specific to condominium properties, please contact the Assessor’s Office or visit its Web site. Assessment and appeal procedures for condominiums are different, primarily due to the fact that a condominium contains elements of common ownership.

"If Rogers Park township taxpayers want to appeal their proposed assessments, we encourage them to do so online," Houlihan said. "Our newly redesigned Web site is easy to navigate, contains a wealth of information, and makes it easier than ever to appeal a proposed assessment."

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