Barrington Township homeowners see a 2% assessment increase, while commercial property values soar 24%.

O'Connor reviewed Barrington Township and seen homeowners had a 2% assessment increase, while commercial property values soar 24%.

COOK COUNTY, ILLINOIS , UNITED STATES , August 27, 2024 /EINPresswire.com/ --

Residential Assessment Surges

The rise of property values in Cook County is not a surprise for residential property owners. Residential property in Barrington Township had a 2% increase showing the rise from $4 billion in 2023 to $4.1 billion to 2024. The highest and lowest-value houses get the biggest assessment increases. Residential property owners of homes ranging between $1 million to $1.5 million saw a high increase of 2%.

Commercial Values Gain Even More Pronounced

In contrast to homes, commercial property increases exponentially grew in valued accounts in Barrington Township. By 2024, commercial values rose 24%, while residential only increased by 2%.  Commercial property worth over $1.5 million in 2024 in Barrington Township of Cook County, Illinois was on average assessed at 29%. Owners of commercial properties valued between $250K and $500k had a 4% increase. Property owners of commercial valued at $250k and between $750k to $1million had an increase of 1%.

What Can Property Owners Do?

The figures are a visual representation of the significant increase in assessments that has occurred in Cook County Barrington Township. Property owners should confirm that they have all eligible and accurate exemptions before appealing the assessment value for the best reduction. O’Connor is prepared to provide support during the appeals procedure, which may be challenging for property owners to comprehend. To substantiate sales and unequal appraisal reduction arguments, our team at O’Connor works in close collaboration with our licensed property tax consultants to present the most compelling evidence. O’Connor collaborates with attorneys who specialize in property tax to execute every conceivable approach to reduce our clients’ property taxes.

About O’Connor:

O’Connor is among the largest property tax consulting firms in the United States, providing residential property tax reduction services in Texas, Illinois, and Georgia, as well as commercial property tax reduction services across the United States. O’Connor’s team of professionals possess 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 more than 900 professionals 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
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