Cook County homeowners face rising property taxes. Three-fourths of that money is going to police and fire pensions instead of services.
By LyLena Estabine | Illinois Policy Institute
Property tax bills (were) due Dec. 15th, and Cook County homeowners are facing tax bills that have grown 16%.
With more money being collected, it makes sense residents would expect better services from the public safety institutions funded by their tax dollars, such as police and fire departments. But Illinois Department of Revenue data from 2023 shows 74% of the money for these entities is going to fund pensions, with little left for public safety.
Cook County weighed down by police, fire pensions
Municipal police and fire department property tax levies for Cook County, 1996-2023, adjusted for inflation and excluding Chicago
Since 1996, the amount of money municipalities in Cook County outside of Chicago have levied to keep up with police and fire pensions has grown nearly five times. The amount levied to keep up services has not even doubled.
Police and firemen receive generous pensions, and rightly so given the dangerous nature of their work. When those benefits become overpromised – as they have become in Illinois – they undermine retirement security and reduce the amount of money available for service.
More here.