Every three years the Cook County assessor increases the assessments for real estate. The schedule for the so-called triennial reassessments goes by township– Palatine and Barrington townships will be reassessed in the 2004 tax bill issued in 2005.
Notices were mailed to Barrington homeowners a few days ago. They will be mailed to Palatine homeowners the first week of August. Why is this important? You only have 30 days from the mailing of the assessment to protest the increase.
The 7% assessment cap that was just passed should help keep large increases under control. It is very important to check your new assessment and to file a protest if it looks too high. If you miss the 30 day window you are out of luck for more three more years.