New Reforms Announced for Income Producing Property Valuations in Cook County

This year, the Cook County Assessor's Office and Board of Review are aligning on how they value income-producing properties for 2026 property tax appeal purposes. Property owners and taxpayers of commercial, industrial, and multifamily properties should be aware of key changes, especially in the reassessment townships located in the south and west Cook County suburbs.

The new framework will see the Assessor's Office employing loaded capitalization rates alongside a historical tax rate analysis for their income approach to value. You can read the announcement from Cook County Board President Toni Preckwinkle and the Cook County Property Tax Reform Group below:

Cook County Property Tax Reform Group Announces New, Unified Method of Tax Rate Calculation between the Cook County Assessor and Cook County Board of Review

For any inquiries or to understand how this new income approach may affect your property tax assessment, reach out to Fanning Law.