Elk Grove Reassessment Increases Home Values by 26%

O'Connor discusses the reassessment increases for homes in Elk Grove township in Cook County, Chicago.

CHICAGO, IL, UNITED STATES, June 17, 2025 /EINPresswire.com/ -- It’s officially reassessment time for Elk Grove. Always one of the most dreaded times of the year for property owners in Cook County, reassessment universally means more taxes for homeowners in and around Chicago. Cook County taxes have increased annually for 30 years, and 2025 is no exception. While Tax Day may be well into the future, now is the only time you have to reduce your taxes.

You should have received notice of reassessment in May for your home or business property. It is this number that the Cook County Assessor’s Office (CCAO) will base your taxes on in the coming year. While you cannot protest your tax rate, tax bill, or equalization number, you can appeal against your property’s assessed value. This is the only option you have to reduce your property taxes, so now is the time to strike.

Reassessment in Cook County
Every three years, a portion of Cook County is reassessed by the CCAO to ensure the value of all real property in those areas. While home evaluations and tax bills do go up outside of reassessment years, thanks to raised tax rates and the equalization factor, it is reassessment that truly brings the staggering property tax hikes that Cook County is known for. It was a reassessment in the south and west that brought the infamous 700% increases to some tax bills.

Currently, the targeted area for reassessment is the North and Northwest of Cook County. While Elk Grove is currently in the process, other townships such as Northwood Park and Evanston have already been through the wringer. While this current round of assessments does not appear to be extreme in the same insane way as the 2023 debacle, there have been some steep increases so far. Let us take a look at how Elk Grove is faring so far.

Elk Grove Residential Values Rise 26%

Elk Grove has received an average property value increase of 26% for all single-family homes in the township. This translates into a jump of $2.07 billion in taxable value. While that is quite the change, it does not quite put things into perspective until it is broken down into home price ranges. It is from here that we can explore the potential impact on Elk Grove in greater detail.

The largest block of homes in Elk Grove are those that are worth between $250,000 and $500,000. These homes totaled $5.83 billion in total value in 2025, an increase of 22% from 2024. It is these homes that will pay the brunt of the raised taxes, as they make up more than 50% of all value in Elk Grove. Homes worth less than $250,000 saw their value increase by an average of 31%. This clearly puts a burden on working and middle-class families, those that can least afford a tax increase.

Homes worth between $500,000 and $750,000 have the second-highest combined value in Elk Grove, standing at $2.19 billion. These homes saw their values go up 31%, or $521.63 million in just one year. Though they make up a small part of the total, even the most affluent homes saw strong increases in their values, with those worth between $1 million and $1.5 million enduring a 48% jump in their taxable value.

Commercial Values Soar 52%

While reassessment is notorious for causing high taxes that cost people their homes, it can also generate enormous tax bills for business owners. The 2025 reassessment of Elk Grove looks to have an even bigger impact on commercial properties than residential ones, as the assessed average for businesses appears to have risen by a combined 52%. Elk Grove commercial properties have seen their total taxable value jump to $8.63 billion, an increase of $2.97 billion since 2024.

The highest percentage increase and the largest jump in raw value is targeted at businesses worth more than $1.5 million. An increase of 56% translates into a taxable surge of $2.73 billion in value. It should be noted that this is taxable value alone, not counting any rate hikes that CCAO will add to fulfill the budgets of entities like school districts. Commercial properties worth over $1.5 million make up the majority of business value in Elk Grove, so this large blow can be felt across the entire community. Smaller commercial properties were not spared, however, and businesses at every level can expect an increase of at least 21%.

Consequences of Reassessment

With valuation hikes across the board, taxpayers of all stripes are going to feel the pinch across Elk Grove. Commercial property owners pass the increased taxes onto customers, landlords raise rent, and homeowners struggle to keep their homes. This pattern has been observed in Cook County for a decade and looks to continue. The situation is becoming so dire that the Cook County Assessor himself has sponsored a bill to enact a “circuit breaker” on taxes, while other members of CCOA have encouraged every person in Cook County to protest their taxes. Indeed, the only option to lower taxable value is to protest your taxes.

Informal Tax Appeals Available Until June 18th

Every township has a certain window in which to protest their taxes. It starts when assessment notices are sent out, after which there is a period where informal appeals can be filed. For Elk Grove, this period started on May 6th and will end on June 18th. Informal appeals can be taken care of swiftly, as they are a direct appeal to the assessor and are focused on incorrect property information. Due to how overtaxed Cook County is and with the scattershot nature of assessments, it is often easy to get a reduction through informal appeals, which can be easily done online.

However, as noted above, you only have until June 18th to file your informal appeal. Informal appeals may be convenient and effective, but there is very little time to gather all you need together and file one. This is not the end of the road, however, and if you are going to miss the deadline, you still have options to explore. Indeed, formal appeals to the Board of Review (BOR) are becoming more common and are now an invaluable way to protect properties across Cook County.

BOR Appeals Save Properties

273,907 formal appeals were filed with Cook County’s BOR in 2024, an increase of 41% from 2023. The BOR is increasingly becoming necessary for property owners to protect themselves from spiraling values and taxes. The BOR is a quasi-judicial group that acts as an impartial judge between taxpayers and CCAO. 2024 was the biggest year ever for BOR appeals, and 2025 looks to surpass those numbers. The fear of outlandish values, or even the possibility of them, has caused my Cook County residents to explore their appeal options more than ever before.

Formal appeals require greater evidence than informal appeals, but they also cover a wider range of protest criteria. Informal appeals can only challenge valuations based on incorrect information. Formal appeals, however, can go into matters of unequal assessment, incorrect valuation, uniformity in value and sales, and a litany of other matters that can affect a property’s true worth. A formal appeal allows a taxpayer’s voice to be heard, while also still being accessible to the average person.

BOR appeals are also open for much longer than informal appeals are. This gives taxpayers the chance to gather the evidence needed to challenge CCAO’s values. The more evidence that a taxpayer can bring to the table, the better their chance of winning. Formal appeals can take a lot of effort, but it is usually worth it. If you want to take your appeal to the BOR or beyond, you do not have to do it alone. You could always reach out to experts like O’Connor.

Let O’Connor Guide Your Appeal

Due to the evidence and work required, many people in Elk Grove and Illinois as a whole turn to property tax experts to guide them on their way to maximum property tax savings. O’Connor is one of the largest property tax firms in the United States, and we have been protecting the rights of property owners for over 50 years. Our consultants, attorneys, researchers, and other team members have in-depth knowledge of both the CCAO and the BOR. We know the evidence required, know what approaches to deploy, and how best to put a case together.

The window for informal appeals may be nearly shut, but the time for BOR appeals will soon open. The BOR has not announced when they will begin to hear protests from Elk Grove yet, but that means you have plenty of time to prepare. With O’Connor doing the heavy lifting, you can be ready to challenge your taxes with all the proof and support you need to get the best result. This is certainly the optimum time to enroll in our Property Tax Protection Program™.

O’Connor can protest your taxes annually, meaning we will keep an eye out for all deadlines. This is not just for reassessment years, but we will also be on the lookout for tax jumps due to increased tax rates or the equalization factor. These tax increases are not even announced to the public in a meaningful way, meaning that they are simply sprang upon you at tax time. The focus on the reassessment nightmare is a good distraction to sneak increased taxes in the back door. Best of all, this will cost you nothing. You will only pay if we are able to lower your taxes.

About O'Connor:
O’Connor is one of the largest property tax consulting firms, representing 185,000 clients in 49 states and Canada, handling about 295,000 protests in 2024, with residential property tax reduction services in Illinois, Texas, Georgia, and New York. O’Connor’s possesses the resources and market expertise in the areas of property tax, cost segregation, commercial and residential real estate appraisals. The firm was founded in 1974 and employs a team of 1,000 worldwide. O’Connor’s core focus is enriching the lives of property owners through cost effective tax reduction.

Property owners interested in assistance appealing their assessment can enroll in O’Connor’s Property Tax Protection Program ™. There is no upfront fee, or any fee unless we reduce your property taxes, and easy online enrollment only takes 2 to 3 minutes.

Patrick O'Connor, President
O'Connor
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