The Assessor's Office released its initial assessments of residential and commercial properties in Riverside Township on March 30, 2023. Riverside Township is the first of seventeen townships located in the South Suburbs of Cook County scheduled to be reassessed this year.
The Assessor’s Office follows a triennial reassessment cycle, which means one-third of the county is reassessed every three years. The townships scheduled for reassessment in 2023 can be found here. When a property is reassessed, the property owner is mailed a Reassessment Notice, which contains the property’s address, characteristics, and estimated Fair Market Value. The estimated Fair Market Value listed on the Reassessment Notice will be reflected on tax bills in 2024.
Numbers at a Glance: Residential
In 2022, median sale prices of single-family homes in Riverside Township were about $361K for single-family homes, $146K for condos, and $400K for small apartment buildings.
The Assessor’s Office estimated the 2023 median market value of single-family homes in Riverside Township is $364K, for condos is $144K, and $420K for small apartment buildings. Estimates depend on the individual property’s location and characteristics.