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Updated almost 4 years ago,
Purchase triggering property tax reassessment Cook County IL
What is everyone’s experience with a property tax reassessment upon sale of a property? In Cook County, IL, my understanding is you may or may not trigger a property tax reassessment based on a sale and otherwise it’s somewhat unpredictable when an actual human will come to reassess the exterior and interior for overall value.
Trying to predict when this might occur on a property purchased with currently low property taxes but is subject to significant increase when reassessed due to forced appreciation. Thanks!