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CCFB News» August 2018

Farm Bureau Working on Property Assessments

08/06/2018 @ 7:00 am

According to recent studies, since 2009 the county's asessments have violated the accuracy standards set by the International Association of Assessing Official's, an international professional organization that develops assessment guidelines and standards, that assessors check their assessments-known as sales ratio studies-for fairness and accuracy.

 

The Cook County Assessor's Office has admitted in recent newspaper articles that they do not check their work for fairness and accuracy, as is a standard practice for assessors. A result of home values that are "outside the target range" of industry standards is regressivity- the tendency to over value lower-priced homes and undervalue more expensive properties.

 

Cook County Farm Bureau is submitting a resolution to amend the Farm Bureau's Property Tax Administration policy to support legislation to require that multi-township assessors check their assessments for fairness and accuracy.

 

The draft policy states: "We will support legislation to improve the administration of local assessments including: Requiring local assessors to conduct sales ratio  studies to check assessments for fairness and accuracy".

 

Farm Bureau members are encouraged to contact Bona Heinsohn at 708-354-3276 or via email at bona@cookcfb.org with any questions, comments, or concerns.