Property Tax Impact on O’Hare Flight Path Homes
While Cook County property taxes have skyrocketed for just about every homeowner thanks to Rahm Emanuel’s combined $838 million property tax hikes over the past year, there are some who actually saw theirs decrease.
However, there’s a “catch” for these homeowners and here’s what can be done about it.
The Chicago Sun-Times reports that more than 8,000 suburban Cook County properties are getting reductions in their assessed value because of increased jet noise from the O’Hare Airport expansion in the form of 4-5% reductions for the owners of every single-family home and apartment building with no more than six units in Norwood Park Township.
More reductions will be rolled out in the months ahead for homeowners in parts of Maine, Leyden and Jefferson townships. All reductions will be reflected in the second installment of 2016 property tax bills that will be mailed in mid-2017.
Even with the latest reductions, homeowners in Norwood Park Township are still expected to see the property taxes based on their scaled-back assessments increase because the 2016 assessed value of the average home there increased by 16-20% before the 4-5% reduction due to increased O’Hare jet noise.
Appealing your property taxes is the only way for you to get additional relief and ensure that you don’t pay more than your fair share. Take advantage of our 15+ years of experience saving more than 10,000 clients millions of dollars in property taxes due to inequitable over-assessments and over-payments so that you can get a maximum property tax reduction.