New property tax model used on Lake View Township residents this year
This year’s property tax assessments for Lake View Township were calculated using a new methodology aimed at improving accuracy, the assessor’s office said.
The new model was developed with help from outside consultants as part of an effort to end “regressivity” that improves modeling for Jefferson Township and replaces a system used since the 1970s.
“Improving residential assessment has been a priority during my time in office,” Cook County Assessor Jeff Barrios said. “It pleases me tremendously to see we are achieving what we set out to do, and new resources now available to us from [Civic Consulting Alliance] and [Tyler Technologies] have helped. This is a huge step forward for Cook County.”
Property owners were notified of this year’s tax bill on May 7 and were given one month to appeal.
One aspect of the old system that is still in place is that only one-third of the county’s 1.8 million pieces of property will undergo reassessment annually so that the entire county will have been assessed under the new model by 2020.