Proviso Township Property Values Show Diverse Trends: Residential Up by 0.1%, Commercial Up by 4.3%

CHICAGO, IL, UNITED STATES, November 1, 2024 -- O'Connor's latest findings reveal that residential values in Proviso Township have increased by 0.1%, while commercial values experienced a more significant rise of 4.3%.

Residential Assessment Shows Modest Growth

In Cook County, property owners typically see an annual uptick in residential property values. In Proviso Township, the residential property value increased slightly from $11.74 billion in 2023 to $11.75 billion in 2024. Homes valued over $1.5 million saw the most notable rise, with an increase of 7.7%. Additionally, homes in the $1 million to $1.5 million range experienced a modest increase of 0.35%.

Commercial Values Surge More Dramatically

In contrast to residential properties, commercial property in Proviso Township witnessed a substantial value increase. By 2024, commercial values had risen by an impressive 4.3%, pushing the total value of commercial properties in the area above $1.5 million, with an average assessment increase of 6.2%. Properties valued between $1 million and $1.5 million also saw a significant increase of 2.3%.

What Should Property Owners Consider?

Given the significant assessment increases in Proviso Township, property owners should first check their eligibility for any exemptions before contesting their assessed values. Utilizing property tax exemptions can lead to significant savings for Cook County residents. Although the appeals process can be complex, O'Connor is here to help simplify it. The firm works with leading property tax specialists to ensure that robust evidence supports requests for tax reductions and to address unequal appraisals. O'Connor and his team of property tax attorneys strive to lower clients’ property tax burdens by exploring all available options.

About O'Connor:

O'Connor is one of the largest property tax consulting firms in the United States, offering residential property tax reduction services in Texas, Illinois, and Georgia, along with commercial property tax reduction services nationwide. Founded in 1974, O'Connor employs over 900 professionals and focuses on enriching the lives of property owners through cost-effective tax reduction strategies.

Property owners interested in appealing their assessment can enroll in O'Connor's Property Tax Protection Program™. There are no upfront fees—clients pay only if their property taxes are reduced—and online enrollment takes just 2 to 3 minutes.