Norwood Park’s Final Appeal Deadline is August 5, 2025
O'Connor discusses the Norwood Park’s final appeal deadline that is in August 5, 2025.
CHICAGO, IL, UNITED STATES, August 1, 2025 /EINPresswire.com/ --Norwood Park was the very first Cook County township to undergo the triennial property reassessment and ended up being a harbinger of what was to come. Since then, the Cook County Assessor’s Office (CCAO) has been handing out large increases to the people of the northern townships. From Evanston to Elk Grove, townships have been seeing major increases across the board. Norwood Park has been something of a pace-setter throughout the process this year and has some of the highest property value spikes in all of Illinois.
The only option currently on the table is to pursue a property tax appeal. Unlike the rest of Illinois, Cook County grants townships a much larger window of opportunity to protest their values, but this is quickly closing. Taxpayers of Norwood Park have until August 5, 2025, to file a protest with the Board of Review (BOR), before appeals for 2025 are closed forever. Informal appeals have been closed for a while, but this represents the last hope for those that wish to escape the tyranny of the CCAO.
Norwood Park Residential Values Climb up to 58%
When the reassessment is broken down as a whole, Norwood Park makes a good case study. When the 2025 reassessment hit, the total value of all residential property shot up 19%. This moved the total from $3.21 billion to $3.82 billion almost overnight. While this put Norwood Park behind Evanston Township’s overall increase of 23%, Norwood Park suffered much larger swings in value across all types of homes. If there is one blessing in the mix, it is that the value peaks hit the wealthiest homes the hardest, while impacts were reduced as the worth of the residential properties fell.
At the top of the mountain, homes worth over $1.5 million saw a staggering jump of 57.9% in value. The value of this cross-section of homes increased from $950 million to $1.5 billion. Considering the worth of these individual homes, this spike can easily mean devastating tax bills, even for affluent owners. It should be noted that property values across Cook County climb every year and homes worth over $1.5 million are no longer mansions but could be older homes that have been in the hands of families for generations. Homes in the price range are now the second-largest category of homes in Norwood Park when it comes to value. Homes worth between $1 million and $1.5 million saw their values soar by 49.9%.
Even when approaching what would be considered middle-class, the value surges did not relent. Homes worth between $750,000 and $1 million climbed 35%, while those between $500,000 and $750,000 saw a bump of 25.2%. The largest group of homes, those worth between $250,000 and $500,000 saw a value increase of 13.6%, the smallest of the spikes. This somewhat conservative jump is why the total value surge was not larger. Homes worth less than $250,000 experienced an increase of 19.5%. Though this is the smallest subset of houses, this large increase is a significant threat to the most vulnerable of homeowners.
Norwood Park Experiences Record Commercial Value Jumps
While the residential total was relatively sedate by reassessment standards, at least as a whole, the same cannot be said for commercial properties. Business owners were slammed with a total increase of 37.8%, a figure that bested even Maine Township’s colossal spike of 36%. This surge took the total value of Norwood Park’s commercial properties from $513.48 million to $706.38 million. Unlike homes, the largest of rises were felt by the primary property type of the township.
Businesses and commercial properties worth over $1.5 million saw a giant increase of 43.8%. As these properties accounted for over half of the total value, this was a massive increase, going from $341.46 million to $491.11 million. Between the money involved and the percentage of the increase, this looks horrendous on a balance sheet but could be even worse in reality. These commercial properties represent a good portion of the economy in Norwood Park and rising values and taxes mean higher prices. Especially since some of these skyrocketing properties are apartment buildings or other multifamily residences.
It was not just the large properties that suffered. Those worth between $1 million and $1.5 million experienced an increase of 31.9%, while those between $750,000 and $1 million saw a stark rise of 24%. Businesses worth between $500,000 and $750,000 saw a sizable increase of 26.2%. Even tiny businesses and properties worth less than $250,000 saw a jump of 10.9%. Like homes, these smaller commercial properties can afford the increase the least.
Only Appeals Protect Cook County Property
The Cook County property value increases have become infamous across the United States, with many figures appearing to be satire or blatant exaggerations. In 2023, some Chicago neighborhoods experienced spikes of 500% or more. While everyone in the north, including Norwood Park, feared that this would be their reality during reassessment, at least this has not come to pass. While things were not apocalyptic this go around, taxpayers of all budgets and stripes are feeling the pinch. These spikes did not happen in isolation either, as property values and tax rates continue to rise, even outside of a reassessment year.
The CCAO has been mired in issues for the past few years, forcing more people than ever before to look for solutions. A recent computer issue will cause things to be delayed once again, putting everything CCAO does into question. With errors across Cook County and a computer system in disarray, the need for property tax appeals and protests has never been greater.
Property tax appeals are setting records across Cook County, especially in places like Norwood Park. It has become supremely evident that the only way out-of-control values are going to be reined-in is by the taxpayers themselves taking charge. When executed correctly, a protest can make all the difference in the world for homeowners and those that own commercial properties. There are currently millions, if not billions, on the line.
Norwood Park’s Final Appeal Deadline Looms on August 5
Cook County property tax protests come in various stages. The initial step is an informal appeal with the CCAO. These were held earlier in the year and are no longer an option. What is still on the table, at least until the deadline, is a formal appeal to the BOR. With the recent history of the CCAO, including allegations that appeals were removing burdens from large businesses while placing the onus on lower-income people, many see the BOR as the legitimate alternative now. This has been helped by something of a rivalry between the CCAO and the BOR developing.
The deadline of August 5, 2025, represents the last chance that the people of Norwood Park have to set the record straight. If this opportunity is missed, then taxpayers have no choice but to be affected by the reassessment’s inflated values.
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
+ + +1 713-375-4128
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