Maine Township in Cook County Sees Residential Values Barely Budge, Commercial Assessments Up 6.3%

According to O'Connor's findings, Maine Township in Cook County experienced minimal changes in residential values, while commercial values have risen by 6.3%.

CHICAGO, IL, UNITED STATES, October 24, 2024 /EINPresswire.com/ -- Residential Assessment Practically Unchanged

The residential property values of property owners in Maine Township, Cook County, experienced a negligible increase between 2023 and 2024. The value of the residential property market in Maine Township increased by 0.5% in 2024, from $15.6 billion in 2023 to $15.7 billion. Higher market value properties had the highest increase percentage. The properties with the highest value increase of 5.6% had a value range between $1 million and $1.5 million. The second highest percentage increase with 4.5% belongs to houses with a market value exceeding $1.5 million.

Commercial Values Gain Even More Pronounced

The value of commercial properties in Maine Township has grown drastically in comparison to residential homes. The commercial values increased by 6.3% by 2024. The residences with greater market values saw the largest rises. For commercial properties valued more over $1.5 million in Maine Township in 2024, the maximum value increase was 7.6%. The owners of commercial properties with a $1 million to $1.5 million valuation had the second-largest rise, at 3.7%.

What Can Property Owners Do?
According to the data, whereas commercial assessments in Maine Township, Cook County, Illinois, climbed significantly, residential assessments only marginally increased. Before contesting the assessment value, property owners should be aware of any exemptions. Those who are granted exemptions from property taxes in Cook County may see annual savings. The appeals procedure may seem complicated to property owners, but O’Connor can assist. O’Connor collaborates with reputable property tax experts to provide the strongest evidence in support of tax reduction and unequal appraisal claims. In order to reduce their clients’ property taxes, O’Connor and his property tax attorneys look into every possibility.

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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