Cook County Assessor Fritz Kaegi speaks about the results of the triennial reassessment and proposed property tax relief legislation on Jan. 29, 2025, at the County Building. (Brian Cassella/Chicago Tribune)
By The Editorial Board | Chicago Tribune
Cook County’s property tax system is a Rubik’s Cube for even those relatively steeped in assessments and equalization factors value to decipher. So pity the ordinary property owners who have to pay the taxman two times every year.
All they know is that the tax cost of owning a home — you know, that thing we call the American Dream — keeps growing at rates that seem unsustainable. And, naturally, they want to know who to blame.
One Cook County officeholder, Assessor Fritz Kaegi, already has felt the public’s anger, losing his Democratic primary reelection race to challenger Patrick Hynes. Kaegi in many respects simply was the messenger who got removed for being in a post directly related to property taxes when many Chicago homeowners got the bad news late last year that their taxes had soared due to the pandemic’s deflating effect on commercial property values.
So leave it to the always-canny Cook County treasurer, Maria Pappas, to issue a comprehensive report less than two weeks after voters made their displeasure known at the polls — saying to residents, in effect, “No, it’s not your imagination. Property taxes really are that bad.”
Pappas, who as treasurer has the unpleasant task of delivering that bad property-tax news straight to people’s mailboxes and thus could be vulnerable to suffering Kaegi’s fate come November when she’s up for reelection, was able both to confirm what angry residents suspected while also tacitly saying: I’m on your side.
Additionally, Pappas has a seasoned, competent staff, and they were able to frame the property-tax awfulness in ways the average Joe and Jane can understand. Over the past three decades, went their analysis, total property tax levies in Cook County rose at roughly twice the pace of inflation and considerably more than than average wages. From 1995 until 2024, Cook County tax levies rose nearly 182% to $19.2 billion from $6.8 billion, according to the study. Inflation over that period was 91%.
Those simple findings, in and of themselves, are as damning of our state and local governments as anything we can think of. They represent nothing less than abject failure of governance.
Editorial continues here.
