Chicago homeowners facing largest property tax jump in at least 30 years, minority communities hit hardest: Cook County study
Share this @internewscast.com

In Chicago, a recent computer system upgrade has led to some delays in property tax bill distribution. Meanwhile, a new study reveals that homeowners in the city are experiencing the steepest property tax increase in over 30 years.

This research highlights that communities of color are disproportionately affected by these tax hikes.

ABC7 Chicago is now streaming 24/7. Click here to watch

Residents might be in for a surprise: An analysis by the Cook County Treasurer’s Office shows that the median residential property tax bill across the city has surged by more than 16%.

The treasurer’s office attributes this spike to increased city expenditures and a reduction in the number of commercial properties contributing to the tax base.

Treasurer Maria Pappas points out a significant decline in the value of downtown commercial real estate. Due to higher vacancy rates, these properties are contributing approximately $129 million less in taxes this cycle.

Pappas explained, “The decline was rapid, but the recovery is sluggish and insufficient to alleviate the burden on residents. Many commercial spaces remain unleased, leading to decreased tax revenue, which has shifted the weight of these tax increases onto homeowners.”

Black and brown communities on the South and West sides are the hardest hit. In West Garfield Park, bills soared 133%. North Lawndale saw a 99% spike. And in Englewood, taxes climbed more than 80%.

The treasurer says many of those homes may have been undervalued before the most recent assessment, done every three years.

If you haven’t gotten your bill, you can see it now or pay online. Taxes are due Dec. 15. But if you can’t pay right away, you can set up a payment plan with interest. More information on that is at www.cookcountytreasurer.com.

Alex Nitkin from the Illinois Answers Project discussed Chicago homeowners facing the largest property tax jump in 30 years.
Share this @internewscast.com
You May Also Like
The most trafficked mammals in the world face extinction—as conservationists try to save them from smuggling

Endangered Mammals Threatened by Smuggling: Conservationists Battle to Prevent Extinction

CAPE TOWN, South Africa (AP) — Pangolins, the world’s most trafficked mammals,…
Pima County Sheriff Chris Nanos says DNA tech issue may take months to fix in Nancy Guthrie case

Pima County Sheriff Chris Nanos Announces Potential Months-Long Resolution for DNA Technology Challenges in Nancy Guthrie Investigation

In the ongoing investigation into the disappearance of Nancy Guthrie, Sheriff Chris…
Outrage as NY teacher is ousted after helping students start a TPUSA club at school

Controversy Erupts in New York as Teacher Dismissed for Supporting Student-Led TPUSA Club

An upstate New York high school teacher reportedly found herself on the…
California Democratic Party convention in San Francisco

California Democratic Party Convention 2023: Key Highlights from San Francisco’s Political Gathering

California’s Democratic leaders are increasingly anxious as the state’s gubernatorial race features…
Blackbird ski guides killed in Lake Tahoe avalanche identified

Victims of Lake Tahoe Avalanche Tragically Revealed as Blackbird Ski Guides

The identities of three ski guides who tragically lost their lives in…
Chicago crime: Family's dog stolen near daycare at Armitage and Clifton avenues in Lincoln Park, owner says

Heartbreaking Theft: Beloved Family Dog Snatched Near Lincoln Park Daycare

A Chicago resident from the North Side is urgently seeking the return…
Hungary threatens to block EU loan to Ukraine unless Russian oil shipments resume

Hungary Stalls EU Aid to Ukraine, Demands Resumption of Russian Oil Supplies

Hungary has issued a warning to veto a European Union financial aid…
Colombian nationals allegedly ran fake law firm, impersonated federal judges to defraud $100K from migrants

Colombian Nationals Accused of Running Fake Law Firm and Impersonating Federal Judges in $100K Migrant Fraud Scheme

Authorities have apprehended four Colombian nationals, including three individuals caught attempting to…
NYC area set to get 2 feet of snow in first dangerous blizzard in a decade — here's when it starts

Brace for Impact: NYC’s First Major Blizzard in a Decade to Dump 2 Feet of Snow – Timing Revealed!

New Yorkers are bracing themselves for an impending severe weather event. For…
The Price of 5 Picks: Mikal Bridges carries Knicks price tag he never asked for

Why Mikal Bridges is the Unexpected Key to the Knicks’ Future Success

Kevin Durant, James Harden, Paul George, Rudy Gobert, and Mikal Bridges—these names…
Authorities seize weapons from Rhode Island shooter's apartment, storage unit in Maine

Authorities Uncover Arsenal: Rhode Island Shooter’s Apartment and Maine Storage Unit Raided

As of Thursday morning, authorities reported that the three surviving victims from…
Ukraine strikes key missile factory deep inside Russia, as Zelensky declares 100 frontline miles liberated: 'not losing'

Ukraine Targets Strategic Missile Factory in Russia; Zelensky Announces Liberation of 100 Frontline Miles: ‘We Are Not Losing

In a bold military maneuver, Ukraine executed a powerful cruise missile attack…