Assessed Valuations for Oak Park Homeowners Decline by 10%
By Ali ElSaffar, Oak Park Township Assessor
On May 24, the Cook County Assessor’s office mailed reassessment notices to all Oak Park property owners. Reflecting continued weakness in the housing market, the assessed value for Oak Park homeowners declined by an average of 10%. It would be easy to conclude that the declining assessed value will correspond to a decline in property tax bills, but as explained below, this is not the case.