By A.D. Quig | Chicago Tribune
After months of delay, nearly 1.8 million property tax bills for Cook County home and business owners are landing in mailboxes this week, and many homeowners in the north and northwest suburbs are in for jarring news.
A new analysis from county Treasurer Maria Pappas’ research team found the median residential tax bill there increased by 15.7%, according to the report, “the largest percentage increase in the last 30 years.”
Residential properties in that part of the county are shouldering a greater share of the tax burden thanks to what one analyst termed a “perfect storm.”
Across all of Cook County’s 1.8 million parcels, taxes for 1.3 million homeowners and 94,000 commercial property owners went up, according to the report.
In the south suburbs, the median residential bill increased by 3.9% and the median commercial bill — for properties like offices, stores, warehouses and large apartment buildings — went up by 2%. In Chicago, the median homeowner’s bill went up 3%, while the commercial median bill rose only slightly more, 3.1%.
In all, property taxes across Cook County rose more than $909 million, to $17.6 billion, according to the analysis. That’s 5.4% higher than last year, but below the 8% rate of inflation for 2022.
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