Roughly 11,300 single-family homeowners and 5,600 condominium owners in Oak Park Township have received tax reassessment notices from Cook County Assessor Joseph Berrios, showing that assessments are up a median 23.35 percent, according to a press release.
Oak Park Township Assessor Ali Elsaffar has penned a good explanation of how the increased assessment works in the village and what it means for Oak Park Taxpayers in this week’s Wednesday Journal Homes section, on page B12.
Berrios says in the press release that taxpayers who want to appeal their assessment “should do it now and not wait until the following year when the new tax year 2017 values are shown on second-installment tax bills mailed in 2a018.”
The deadline for appeals is April 3.
Highlights from Berrios’ announcement show:
An improving real estate market in Oak Park.
The median sale price of a single-family home and other non-condominium residential properties jumped to $409,910 in 2016, compared to $339,000 in 2014.
Proposed assessments of condominiums reflect a median increase of 25.2 percent.
— Timothy Inklebarger