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Cook Assessor to Adjust for COVID-19 Effects on Property Value

Cook Assessor To Adjust Assessments for COVID-19Cook County property owners will see their property values adjusted to reflect any “significant” changes in market value that can be attributed to the coronavirus pandemic, the assessor’s office said in a press release this week.

“This is an unprecedented crisis and we’re taking necessary steps to address it,” Cook County Assessor Fritz Kaegi said in the release. “In view of the state and federal governments’ declaration of Illinois and Cook County as major disaster areas, and the pandemic’s toll on markets and property values, we are adjusting assessments to reflect this reality.”

Adjustments will be considered in all townships, including those that have already been reassessed and those in the north suburbs and Chicago that are not scheduled for reassessment this year, according to the release.
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