A recent analysis from the Cook County Treasurer's Office revealed that property taxes for some homeowners in the south and southwest suburbs will significantly increase.
A recent analysis from the Cook County Treasurer's Office revealed that property taxes for some homeowners in the south and southwest suburbs will significantly increase. Cook County Treasurer Maria Pappas said the median tax bill jumped a record 19.9 percent in the region after analyzing the second and final round of tax bills for the 2023 tax year.The steepest increases in homeowners' tax bills were seen in 15 southern suburbs, where taxes surged by 30 percent or more.
Residential taxes went up by $109.8 million, while taxes on commercial properties increased by $103.1 million.In Chicago, taxes saw a modest increase of 2.6 percent, primarily due to a higher Chicago Public Schools tax levy and rising bills in numerous tax increment finance districts. The treasurer's office said south and southwest suburban homeowners are being hit hard because a new assessment shifted 4 percent of the overall tax burden from businesses to them.
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