The Impact of 2025’s Mistakes will be Felt Deep into 2026

O'Connor discusses how the impact of 2025’s mistakes in Cook County will be felt deep into 2026.

CHICAGO, IL, UNITED STATES, December 17, 2025 /EINPresswire.com/ --


2025 has been a year of upheaval in Cook County. Thanks to computer errors and issues involving the Cook County Assessor’s Office (CCAO), the Treasurer, and more, the people of Chicago and the surrounding area saw the largest spike in residential property taxes in the history of the county. That certainly says something for those who are familiar with the swings that can be found in Cook County. The average homeowner saw taxes increase by 16% for the second installment of property taxes, but other areas were hit much harder. For instance, the average increase in West Garfield Park was 133%.

While the crisis is still ongoing, it is already guaranteed to spill over into 2026. Values rarely decline after they spike, let alone a massive jump for the whole county. Many of the underlying causes still exist and could get worse. O'Connor will cover what the knock-on effects for Chicagoland could be seen in 2026 and what property owners and fellow taxpayers can do to weather the storm and get things back on track.

2026 Tax Bills Delayed

The largest impact that will be felt directly on taxpayers in 2026 is the delayed release of the first installment of tax bills. Thanks to the second bills of 2025 being delayed for months due to errors, it was decided by the powers that be that taxpayers needed a little breathing room. The first installment of taxes will now be due in April 2026 instead of March, with bills based on 2025 values coming out in March 2026. Of course, this is only a month, which makes it ring more than a bit hollow. Still, if property owners are going through all of this in Cook County, every little bit helps. If owners are struggling with paying both bills, the Cook County Treasurer will have payment plans available for both, allowing owners to spread things out over the course of the year to avoid the possibility of losing your property.

Triennial Reassessment Comes to the South and West Suburbs

While most Chicago residents know to fear their triennial reassessments, it was the 2023 iteration that launched many of the problems that we see today, while also being burned into the minds of residents of the north and west suburbs. Things finally come full circle, as the CCAO once again turns its gaze to the area. Traditionally, areas stricken by the reassessment see the largest increase in taxes. In 2023, the regions saw some dramatic hikes, with some homeowners seeing jumps of over 700%. Although increases of that size were outliers, overall tax hikes were still subsidized. On the heels of the 2025 debacle, taxpayers in the area could be facing some serious hikes, as the inequalities that created the 2025 crisis still exist. If owners haven’t already, now would be a great time to start gathering evidence for the appeal in 2026.

Commercial Failures Leading to Higher Home Taxes

Homeowners may face significant increases again in 2026, just as they did in the second installment for 2025. The reason that homeowners saw such a leap in 2025 was due to falling commercial property values, especially in the Loop and the Magnificent Mile. This was compounded by the fact that most businesses appeal their taxes each year, which puts an even bigger burden on homeowners, since the tax burden has to be shifted elsewhere. Empty office space is currently the biggest issue when it comes to commercial property in Chicago and the surrounding area. If these offices begin to fill up again, it may be possible to reverse course. Still, the possible imbalance between residential values and businesses is a fantastic reason to appeal taxes.

Megaproject Bill Could Shape the Future of Illinois

One way to address growing commercial shortfalls is a possible Megaprojects bill. House bill 4058 would help expand tax breaks for large business projects, as long as they are linked to job creation. While still being debated, if passed, HB 4058 would expand tax breaks to projects worth over $100 million. The current cutoff is $500 million. This would include stadiums, including a new one for the Chicago Bears. Critics believe that the bill would only widen the gulf between homeowners and businesses, making matters worse.

Legislative Solutions Proposed

Due to the fire lit by the 2025 tax debacle, perhaps local or state government will actually fix the issues through legislation in Cook County or Illinois as a whole. With some residents literally burning their tax bills, there needs to be a change. Proposed ideas include a tax freeze, a “Circuit Breaker” to prevent giant spikes, and drastic cuts to pensions or government employees. Both sides of the aisle have proposed ideas, but everything is currently stuck in limbo. The mayor of Chicago has also floated some ideas, including a head tax on businesses. This would charge large businesses an additional tax for every employee they have.

Possible Government Shutdown

There is currently a budget shortfall in Chicago, one that could get worse. Thanks to delayed bills, certificates of error, and assessments, governmental bodies are currently playing catch-up. Many had to turn to short-term loans to fill in the gaps created by the delays, which means interest payments on top of other issues. There has yet to be a budget proposed that everyone can agree with. The mayor’s head tax seems to be a dead issue, but pension cuts are also supposedly not on the table. With many issues between all parties, the prospect of a government shutdown in Chicago is a real possibility. If this happens, then things could be thrown even more into chaos. Considering how the property tax crisis devolved into finger-pointing, a government shutdown, the first in the city’s history, is not outside the realm of possibility.

About O'Connor:
O’Connor is one of the largest property tax consulting firms, representing 185,000 clients in 49 states and Canada, handling about 295,000 protests in 2024, with residential property tax reduction services in Illinois, Texas, Georgia, and New York. O’Connor’s possesses the resources and market expertise in the areas of property tax, cost segregation, commercial and residential real estate appraisals. The firm was founded in 1974 and employs a team of 1,000 worldwide. O’Connor’s core focus is enriching the lives of property owners through cost effective tax reduction.

Property owners interested in assistance appealing their assessment can enroll in O’Connor’s Property Tax Protection Program ™. There is no upfront fee, or any fee unless we reduce your property taxes, and easy online enrollment only takes 2 to 3 minutes.

Patrick O'Connor, President
O'Connor
+ + +1 713-375-4128
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