Every few years Chicago and Evanston homeowners brace themselves for one of Cook County’s most anxiety-producing traditions: the reassessment notice. It usually arrives quietly in the mail, looking innocent enough—until you open it and see numbers that stop you mid-sip of your morning coffee.
This year’s reassessment cycle has brought bigger surprises than usual, with many areas seeing shifts due to changing market values, weakened commercial property revenues, and delayed tax bill processing countywide. Whether you’re buying, selling, or simply staying put, these new assessments have real financial implications.
And understanding them is the first step to protecting your investment.
As always, if you want help running the numbers or preparing your next steps, you can connect with me anytime at alliepaynegroup.com.
1. Why Cook County Tax Assessments Are Changing
Cook County reassesses property values every three years, and 2025 hits the North Suburbs cycle — which includes Evanston. Several forces are driving changes:
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Shifting residential values from 2020–2024
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Steep declines in downtown commercial property, pushing more of the tax load onto homeowners
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Delayed tax bill mailings due to county technology upgrades
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Higher school levies and municipal budgets, which impact the tax rate
This combination has produced assessments that feel higher than expected — and for some households, tax bills that will follow suit.
If you’re unsure how your neighborhood is trending, you can always request a personalized market review at alliepaynegroup.com.
2. How Assessments Actually Affect Your Tax Bill
Many homeowners think a higher assessment automatically equals a higher tax bill — but that’s not always true. Your tax bill is determined by several layers:
Market Value → Assessed Value → Equalized Assessed Value (EAV) → Tax Rate → Local Levies → Exemptions → Final Tax Bill
Your bill may go up if:
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Your assessed value rose faster than the township average
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Local taxing bodies increased their budgets
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You don’t have exemptions you qualify for
Your bill may go down if:
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Your township lowered its tax rate
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You qualify for new exemptions
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Commercial recovery increases shared tax load (not likely this cycle)
If you want help translating your new assessment into real numbers, you can reach me directly through alliepaynegroup.com — I’m always happy to run the analysis.
3. What Chicago & Evanston Buyers and Sellers Must Know
For Evanston & Chicago Homeowners
Your next tax bill may increase, especially if:
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Your assessment jumped significantly
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Your township experienced commercial tax losses
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You’re missing a homeowner, senior, or veteran exemption
Knowing how this impacts your long-term cost of ownership is essential — especially if you’re considering selling in the next 12–24 months.
For Buyers (Especially $1M+ Buyers Coming From Chicago)
Many buyers relocating from Chicago to Evanston are surprised by how varied our property taxes are. A $1.2M home on one block can carry a very different tax burden than a similar home two streets over.
Before you buy, get a full tax forecast. I can prepare one anytime via alliepaynegroup.com.
For Sellers
Buyers are now asking more questions about taxes than ever before.
Being prepared with:
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Your most recent assessment
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Your actual exemptions
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Township projections
…gives you a major advantage when listing your home.
4. What You Should Do Right Now
Here’s your action checklist for navigating the new assessment year:
✔ 1. Look up your Property Index Number (PIN)
Make sure the County’s information about your home is correct.
✔ 2. Check for errors
Incorrect square footage or bedroom counts can inflate assessed value.
✔ 3. File an appeal
If your assessment is higher than similar homes nearby, you have a solid case.
✔ 4. Verify exemptions
Homeowner, Senior Freeze, and Veterans exemptions can meaningfully lower your bill.
✔ 5. Factor taxes into your buying or selling plan
If you’re planning to buy or list soon, I can help you run the numbers.
You can schedule a consult anytime at alliepaynegroup.com.
Bottom Line
Cook County’s reassessment year is complicated, confusing, and often frustrating — but you don’t have to sort through it alone.
Whether you’re buying a luxury home in Evanston, selling a Chicago condo, or simply managing your property for the long haul, understanding the new assessment is essential. And I’m here to guide you through every step so you can make confident, informed decisions.
When you’re ready for a deeper dive into your specific numbers, just reach out at:
👉 alliepaynegroup.com
