Cook County taxpayers could be in for sticker shock when they open the bills that will start arriving this week.
In some areas that have just been re-assessed, residents could face an increase of up to 15%.
Most of a $909 million increase in 2022 property taxes will be going to school districts, according to Cook County Treasurer Maria Pappas, whose office just released an analysis of 1.8 million bills.
Of the 940 taxing agencies on Cook County, the study found that almost 72% increased their taxes.
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The study, conducted by former Chicago Tribune investigative reporters Hal Dardick and Todd Lighty, also found that homeowners will be shouldering the majority of the increase, picking up $599.1 million or two-thirds of the tab.
Commercial properties will make up the difference with an additional $314.4 million.
“If commercial goes down, residential goes up,” Pappas said. “It’s simple like scale.”
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According to the treasurer’s office, some of the highest increases are in the north and northwest suburbs, which are up more than 15 percent after tri-annual re-assessments.
Maria Sams just paid her bill in person at the treasurer’s office. She said that she and her daughter scraped together every penny just to continue to live in their Midlothian home.
“My house is paid for, but with the taxes, it's like having a whole new mortgage all over again,” she said.
In the south and southwest suburbs, taxes rose $173 million.
Reflected in the higher tax bills, Pappas said, is a change in state law that allows school districts and other taxing bodies to recover money that was refunded to property owners whose assessments were lowered by the Illinois Property Tax Appeal Board or other offices. This so called “re-capture” accounts for $203.7 million countywide.
Pappas worries that the rising taxation is forcing residents out of Cook County. She calls the phenomenon “quiet exiting.”
“I can’t get people to come to my house for dinner because they left,” she said.
The treasurer advised taxpayers to carefully read their bills to see where the money is going in their area. She also said they should see what, if any, exemptions they are eligible for by checking the “tax calculator” portion of the bill. Combining homeowners and senior exemptions could save a lot of money, she said.
Second installment bills are being mailed on Wednesday and are due Dec. 1. If you can’t wait to see your bill, you can download it from the treasurer’s website.
