Tax reassessment in Cook County, IL

One rule applies, with its citation below.

Research, not legal advice

These summaries are compiled from ordinance text and public sources and are dated at the point they were last checked. Rules change between checks — Newark replaced its whole registration regime in a single month — so confirm anything you are about to underwrite against the primary source or the municipal office named in the citation.

Chicago is reassessed in 2027, and your purchase price is evidence

Cook Countymedium confidence

Verified on 2026-08-01 — 15 days ago.

Cook County reassesses on a triennial cycle that puts the City of Chicago in 2027, and the assessor treats a recent purchase price as evidence of market value.

From tax year 2026 the assessor applies a 'loaded cap rate' — taxes are added as a load rather than deducted as an expense — which raises assessed value on income-approach properties. Underwrite the post-2027 bill, not the seller's current one.

Next chicago reassessment: 2027

Sources

Cook County Assessor — triennial reassessment schedule

Every rule for Cook County, IL