This year, Chicago residents received their home assessments in the mail. Residents in some of the city’s neighborhoods saw increases as high as 60 percent, according to ABC 7 Eyewitness News. Home assessments are determined by sales data of comparable homes near your own. These reassessments, the first since 2016, could mean homeowners can expect a big increase in property taxes next year, according to The Real Deal. Here are four of the neighborhoods with the biggest jump in taxable home value.

Humboldt Park

Homes in Humboldt Park

In the first half of this year, the median sale price of single-family homes in Humboldt Park increased 45 percent, according to Chicago Magazine. The neighborhood has been somewhat of a hidden gem for years, attracting homebuyers who love the area but not the higher prices of surrounding neighborhoods like Wicker Park and Logan Square. Though quickly climbing, the median home sale price in the neighborhood remains fairly reasonable at $382,500, according to Neighborhoods.com data.

The neighborhood’s popularity has been on a meteoric rise, and that’s reflected in the increase in home assessments. The neighborhood’s taxable home values have gone up by more than 50 percent, according to The Real Deal report. Unsurprisingly, some of the biggest home assessment increases can be found on the streets right along the neighborhood’s 219-acre park.

It seems Humboldt Park is shedding its under-the-radar status and becoming a full-blown hotspot. The neighborhood certainly has all of the makings of a trendy community. New restaurants? Check. Plans for a live music venue? Check. A gym with a twist? Check. A big, beautiful park? Check.

Logan Square

Homes in Logan Square

Logan Square, right next door to Humboldt Park, is well-recognized as one of the city’s hippest places to live. Home prices in the neighborhood haven’t made quite as large of a leap as in Humboldt Park, but they did go up 17 percent, according to The Real Deal report. Right now, the median sale price in Logan Square is $400,500.

When it comes to home assessments, some areas of Logan Square saw a major increase. For example, a stretch of the neighborhood east of its Illinois Centennial Monument on the ever-popular Logan Boulevard saw an increase in taxable home value of 50 percent, according to Crain’s Chicago Business. Crain’s offered some individual examples of what that increase means for homeowners in the neighborhood. One homeowner has a new assessment 126 percent higher than the one performed in 2016, which could mean $4,100 more in property taxes, according to the report.

Logan Square has been evolving from avant-garde enclave to an epicenter of new development. The neighborhood is getting new condos, a boutique hotel, and a $65 million renovation project for the Congress Theater.

West Loop

Homes in the West Loop 

The West Loop, which encompasses Fulton Market, needs no introduction as one of the city’s most popular neighborhoods. Condo and office buildings are going up left and right, and major corporations like Google and McDonald’s now call this area home. Unsurprisingly, the median home sale price in the West Loop is on the higher end at $475,000. The median sale price in the sub-neighborhood of Fulton Market is even higher at $545,000. 

Given how eager developers and homebuyers are to snap up property in the West Loop, assessments were bound to rise. The majority of the neighborhood saw a median increase of 46 percent in taxable value, and one homeowner with a condo on Fulton Street saw a 78 percent jump in assessment, according to the Crain’s report.

West Town

Homes in West Town

West Town is not far behind Fulton Market when it comes to sale price. Homes in this neighborhood, located just east of Humboldt Park, are going for a median sale price of $505,000. Just last year, the neighborhood was named the city’s top spot for new condos with hundreds sold and on the market.

Home assessments in one stretch of the neighborhood (between Grand and Chicago avenues) skyrocketed 40 percent, according to the Crain’s report. Like the West Loop, West Town is a formerly industrial area that’s coming into its own as a residential powerhouse. The majority of homes in the neighborhood are attached, like most spots located closer to the city center, but you can still find single-family homes.