Taxpayers in Illinois Will See Sharp Increases in Property Valuations

The 2023 quadrennial reassessment year is underway, and taxpayers will see significant increases in assessments and taxes across the state. We expect every industry to experience increases, with multifamily and industrial classes to be impacted the most. Appeal deadlines are set by the county and vary by township, with deadlines usually running from mid-summer to end of the year.

The local experts at Ryan have deep relationships with the local jurisdictions and have been informed that some counties could see increases far higher than prior years. We are recommending informal appeals ahead of the deadlines to mitigate the tax increases.

Don’t miss an appeal deadline and risk an increase in your 2023 property taxes. Reach out to our local experts today.