A commercial property in Cook County has an estimated market value of $380,000. Using the applicable Cook County assessment level for commercial property, what is the assessed value?
Correct Answer
B) $95,000
Option B is correct. Cook County assesses commercial property (Class 5) at 25% of estimated market value. $380,000 × 25% = $95,000.
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At a training session in Skokie, Devon Bennett reviews a commercial property in Cook County that has a market value of $640,000.00. Using the Cook County assessment level for that class, what is the assessed value? Which answer is correct?
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