Residential values in Bremen Township experienced a 0.2% decrease, while commercial values rose by 5.7%

O'Connor conducted an analysis showing that residential values in Bremen Township experienced a 0.2% decrease, while commercial values rose by 5.7%.

CHICAGO, TX, UNITED STATES, October 17, 2024 /EINPresswire.com/ -- Residential Assessment Surges

The residential property values of property owners in Cook County, Bremen Township experienced a decrease by the end of 2024. The residential property market in Bremen Township experienced a decrease of -0.2% in 2024, the value fell from $7.42 billion in 2023 to $7.4 billion. The houses with the most significant value increase of 57% had a value range of $1 million to $1.5 million. Higher value homes had the highest increases, while lower value homes had the lowest increases. Homes ranging in value from $250k to $500k had a slight increase of 0.3%.

Bremen 2024 Residential Graph

Commercial Values Gain Even More Pronounced 
In contrast to residential properties, Bremen Township's commercial properties have experienced a substantial increase in value. Commercial values encountered an extraordinary 5.7% increase by 2024. Homes with a higher market value exhibited the most substantial increases. Properties that values exceeded $1.5 million, had the maximum assessment of commercial property in Bremen Township of 8.8% in 2024. The second largest increase of 8.3% was experienced by owners of commercial properties valued between $750k and $1 million.

Bremen 2024 Commercial Graph

What Can Property Owners Do?

The data suggests that the assessment for Bremen Township in Cook County, Illinois, decreased for residential but increased greatly for commercial. Property owners must initially determine whether they are eligible for any exemptions prior to protesting the assessment value. Residents of Cook County may conserve funds annually by applying for property tax exemptions, provided that they are granted approval. Property owners may find the appeals procedure to be confusing; however, O'Connor is available to provide assistance. O'Connor collaborates with esteemed property tax specialists to ensure that the most dependable evidence is utilized to support requests for tax reductions and unequal appraisals. O'Connor and his team of property tax attorneys strive to reduce their clients' property tax expenses by examining all viable alternatives.

About O'Connor:

O'Connor is among the largest property tax consulting firms in the United States, providing residential property tax reduction services in Texas, Illinois, and Georgia, as well as commercial property tax reduction services across the United States. O'Connor's team of professionals possess 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 more than 900 professionals 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
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