2023 Reassessments in Calumet Township

Numbers at a Glance: Residential 

• In 2022, median sale prices of single-family homes in Calumet Township were about $144K for single-family homes, $50K for condos, and $258K for small apartment buildings.   

• The Assessor’s Office estimated the 2023 median market value of single-family homes in Calumet Township is $130K, for condos $56K, and $190K for small apartment buildings. Estimates depend on the individual property’s location and characteristics. 

Residential Reassessment Report

Numbers at a Glance: Commercial

The chart below shows a high-level overview of the commercial properties in Calumet Township.

Commercial Reassessment Report

Appealing property assessments

If the property characteristics listed on an assessment notice are incorrect, or if the estimated market value of a property is significantly more than what it could sell for in the current real estate market, property owners should consider filing an appeal.

Appeals for Calumet Township can be filed until May 1, 2023. More information can be found at cookcountyassessor.com/appeals. To learn more about property assessments and appeals, join the Assessor’s Office at a virtual event and download this helpful guide.

Changes in Assessed Value in Calumet Township 

Because of increases in the value and/or number of properties throughout Calumet, the total assessed value of the township grew 54%. The following table shows the increase in total assessed value in residential and non-residential properties in Calumet Township.

If the percentage increase of a Calumet property’s individual assessment went up less than the total assessed value of 54%, the property could see little change in its property tax bill or even a decline. The full impact of this reassessment on tax bills will be known in late 2024 after all appeals are processed and exemptions are applied.

How Assessments Relate to Property Taxes 

Assessments, under Illinois law, should fairly reflect market values. The Assessor’s Office estimates market values by using a mass appraisal model that analyzes sales trends. Mass appraisal models rely on accurate data. If a property owner believes the characteristics listed for their property are inaccurate, or their property is worth less than the Assessor’s Office’s estimate of its value, the owner is entitled to file an appeal.

These assessments divide up the total tax levy of that property’s township, school district, and other taxing districts. A property owner’s share of taxes depends on how their property’s assessment relative to the total assessed value of their area. Therefore, an increase in a property's assessment does not lead to the same increase its tax bill.

Tax levies pay for services such as schools, parks, libraries, and pensions. The Assessor does not set levies or tax rates. Increases in assessments do not increase the revenue received by taxing districts.