**Chicago SIOR Hosts Luncheon on Tax Assessments and Appeal Process**
The Chicago Chapter of the Society of Industrial and Office Realtors (SIOR) recently held its Speaker Series Luncheon at The Glen Club in Glenview, Illinois.
Joshua Hearne, SIOR, Principal at Cawley Chicago Commercial Real Estate and Treasurer of the SIOR Chicago Chapter, served as moderator for an insightful panel discussion focused on the complexities of the property tax landscape for commercial properties in Cook County and beyond.
The panel featured Jay Rock, partner at Rock, Fusco & Connelly, and George Cardenas, commissioner of the Cook County Board of Review. Together, they dissected the intricate process of real estate tax assessments and the appeal procedures associated with them. Key topics included the roles of assessors and review boards, and the critical need for supporting evidence when challenging property valuations.
Additionally, the discussion explored tax incentive programs such as the Class 6b incentive, including the criteria for eligibility, renewal processes, and the political factors that may influence these incentives. The conversation also extended into a broader comparison of tax trends and infrastructure concerns across Cook County and surrounding regions, emphasizing the impact of new developments and demographic shifts on tax rates.
The event provided valuable insights for commercial real estate professionals navigating the evolving property tax environment.
