January 21, 2009 --
The Cook County assessor is reportedly looking for ways to adjust assessed home valuations as home prices continue to fall. The Sun-Times reports that James Houlihan wants to bring assessments more in line with current housing market conditions.
The plan would make adjustments based on the location of the home.
Houlihan says the current Cook County budget crunch may make revamping assessments difficult for this year.
He says the assessor's office may look to do it in the next property tax cycle.