- The Cook County Assessor’s Office (“CCAO”) recently released new estimated property values for Lyons Township.
- Assessed values were increased for 66% of residential properties.
- Property owners have until August 14, 2020 to appeal these changes
The CCAO is reassessing every property in Cook County as part of its response to the ongoing COVID-19 pandemic. Lyons Township includes large parts of Western Springs, Countryside, McCook, La Grange, Summit, Lyons, Justice, and Willow Springs villages.
Here is a summary of the reassessment changes for residential properties in Lyons according to the Assessor:
|Property Type||Median Estimated Value|
|Single Family Homes||$108,730|
|2-6 Unit Apartments||$256,310|
As shown in the following histogram, quite a few properties saw increases of more than 50% in assessed value:
The CCAO adjusted residential property values down by 8-12% per Neighborhood because of COVID-19. These adjustments varied by location and were meant to track the predicted depreciation in market prices as unemployment increases because of the pandemic.
For this reassessment, the CCAO met both of its internal fairness benchmarks. The CCAO reported that its valuations were low in variability and vertically equitable.
Lyons Township 2020 Appeals
The CCAO mailed reassessment notices to Lyons Township property owners on July 10, 2020 and property owners have until August 15, 2020 to appeal.