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One of the big questions this year is what the Assessor intends to do with a Corona Virus discount. With nine townships released as of the date of this writing, we can at least glean a broad stroke estimate.
The first five townships were released with no Corona Virus discount. The assessment increases, which only reflect commercial properties, are reported below. They averaged from a low of 40% in Riverside Township to a high of 87% in Oak Park Township. The blended average assessment increase was 60.8% for these five townships.
Four townships have been released that are inclusive of a Covid discount. These reflect a range from 26% for Berwyn Township to 65% for Stickney Township with a blended average increase of 47.7%.
2020 South Tri Assessor Corona Virus Discount | |||
Assessment | 2019 | 2020 | |
Pre-Covid Tri's | Increase | Assessment | Assessment |
Riverside | 40% | $53,340,699 | $74,459,227 |
River Forest | 55% | $18,968,044 | $29,436,886 |
Oak Park | 87% | $121,669,775 | $227,723,445 |
Palos | 45% | $149,335,255 | $216,541,568 |
Calumet | 72% | $35,794,590 | $61,553,055 |
Avg Increase Pre-Covid | 60.80% | ||
Post-Covid Tri's | |||
Berwyn | 26% | $65,605,650 | $82,851,851 |
Lemont | 39% | $62,364,058 | $86,918,475 |
Worth | 43% | $501,812,984 | $719,740,704 |
Stickney | 65% | $243,375,404 | $400,274,709 |
Avg Increase - Inclusive of Covid | 47.70% | ||
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Weighted average Corona Discount | 13.10% | ||
