Cook County Board of Review Reduces Market Value of State Parkway for 2016 By Another 6 Percent

Cook County Board of Review’s 2016 Decision opined that the total market value of State Parkway’s 160 units and 110 deeded parking spaces is $41,181,760, which is 6.06% lower than the 2015 Decision. This translates to roughly another 5.69% reduction in property tax bills for 2016 and 2017 taxes payable in 2017 and 2018, respectively.

With respect to parking spaces at State Parkway, the Board of Review’s 2016 Decision has opined that the market value of a parking space that is not on the main level of the garage is approximately $17,990.

The Board of Review’s 2015 and 2016 Decisions altogether are 12.7% lower than the $46,439,318 assessed by the Cook County Assessor in 2015. State Parkway’s next triennial assessment is not until 2018.

 

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