Center for Policy Research
Property Tax Web Series
Daniel McMillen, Ruchi Singh
This analysis of residential assessment ratios in Cook County, Illinois for 1976 - 2020 suggests that unusually low and high assessment ratios display only a modest amount of persistence over time. Mean and median assessment rates were consistently lower than statutory rates throughout this time, apart from a short period during the Great Recessions. While lowpriced properties tend to have higher assessment rates than high-priced homes, they also are much more variable. High assessment rates in one assessment year are frequently followed by lower rates for the same property in subsequent years.
This paper was presented by Daniel McMillen on August 26, 2022 as part of the 2022-2023 Syracuse-Chicago Webinar Series on Property Tax Administration and Design. William H. Hoyt was the discussant for this presentation. Hoyt Comments on McMillen's "Assessment Persistence".
This Syracuse-Chicago Webinar Series on Property Tax Administration and Design aims to gather insight and scholarship through domestic and international comparative studies with common threads to help reform and improve property tax administration and design in the U.S. and other countries facing similar problems.
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