Teardowns may not affect assessed value

Here's a blurb from the August 27, 2006 Tribune about a reported policy by the Cook Assessor whereby older homes on blocks with teardowns can be compared with each other, but not with the new homes. According to the Assessor's office, this policy went into effect in 2005 and is playing a role in the 2006 reassessment of city properties.

It sounds sort of murky to me and I haven't seen anything office from Houlihan. Don't hesitate to protest I say!