Property valuations increasing at slower rate in 2026 assessment

Over the next few weeks, property owners in Cook County will receive valuation notices from the assessor’s office. While property values have risen steeply in recent history, Cook County Assessor Bob Thompson told WTIP that this year’s increase is more modest compared to previous years.

Thompson said that after eliminating some outlier properties, like those that have been separated into several smaller parcels, and therefor may see a significant change in value, the county-wide average increase was around 5%. He said most property owners in the county would see increases of less than 4%.

In 2025 the average increase was 6.2%, and in 2024 the county saw average values rise by double digits. Though the past few years have seen a slow-down from the significant jumps in values during and immediately after the Covid-19 pandemic, Thompson said that it is hard to speculate on what the next years might hold.

“We haven’t seen what I would say as a downward trend yet,” he said. “It could be, we could be in the in the very early stages of that. But you know, that plays out over a longer period of time, and that’s something we’ll have to watch for.”

The 2026 valuation does not impact the tax statement that property owners should have recently received. The 2026 valuation is reflected in the property taxes payable in 2027.

Once property owners have received their 2026 valuation, they have the opportunity to contest it if they feel it is inaccurate. Thompson said that there are instructions included in the mailing for how to contact his office with questions or to dispute the valuation.

Thompson said his department will work with property owners to understand their valuations and to adjust them if necessary. For property owners who are unable to come to an agreement with the Assessor’s office, the county will hold its annual Board of Appeals and Equalization meeting on June 18, during which property owners will have the opportunity to request a valuation adjustment from the Board of Commissioners. The county’s township boards will also hold meetings for residents of Schroeder, Tofte, and Lutsen.

WTIP’s Kirsten Wisniewski spoke with county Assessor Bob Thompson about the 2026 valuation notices. Audio of that interview is below.

Kirsten Wisniewski April 11, 2026