A new study released by the Cook County Treasurer’s Office has determined Chicago homeowners are facing the largest property tax jump in three decades.
WLS reports the city’s predominantly Black and Hispanic communities will be hit the hardest with the property tax hikes – West Garfield Park is experiencing a 133% increase while North Lawndale is enduring a 99% increase and Englewood homeowners will be paying a more than 80% tax upswing.
The treasurer’s office is attributing this new tax environment to increased city spending coupled with a drop in the value of downtown commercial buildings that traditionally accounted for a greater share of property tax revenue.
“It went down in a landslide, and it is coming back like a snail, slowly, very slowly and not fast enough to handle the residents who carry the burden,” said Treasurer Maria Pappas. “Because many went unrented. Many are unrented. The taxes went down. What happened was the residences ended up picking up the bulk of these tax increases.”
Pappas added that many of the home that are now being burdened with much higher property taxes were previously undervalued before the most recent assessment, which is conducted every three years. The city is offering an installment plan with interest for homeowners who are unable to pay their total property tax bill at one time.
These governments just need to quit spending. Pretty soon, they’ll be as broke as the rest of us!
NYC will be next thanks Democrats
NYC is like LA, occupied by the communists.
Aren’t there majority tenants there? Offered an installment plan? There already is one in place, I’m told. The assessor traditionally undervalues homes. They take an average, and make assumptions based on trends. Otherwise every homeowner would sue every year. Commercial property is victimized by cities everywhere. Now they are moving out for greener pastures, or being driven out by lack of support or higher crime in many areas. During the Regime of Coleman Young in Detroit, taxes were extremely high, lower grossing businesses or non-profits, paying little or no taxes in older buildings proliferated, and the city eventually went bankrupt.
This is what happens when the blind lemmings AKA ( Chicago Democrat voters) elect someone who cares more about illegal aliens and hating Trump than his constituents.
That’s why we moved out a few years ago, smart enough to see the writing on the wall.
LOL, the Democrats are going city by city, coast to coast, destroying every city. They use DEI to install school boards, DAs, police chiefs and city council members to increase crime, destroy the schools and increase corruption. George Soros and the globalists are laughing as the ghettos grow and the Democrats get “elected” despite being hated by the people.
Well Chicago, it could be worse, try living in California with the highest state taxes in the USA, highest price for a gallon of gas, wildfires, no-water, earthquakes, largest homeless population but we do have nice weather.
Good. I luv it. Keep voting for democrats.
WE live in a state that cares more about illegals and teachers’ pensions than the tax payers. But – these corrupt Democrats keep getting elected – their ‘GERRYMANDERING” was very successful. Pritzker is corrupt and evil, and Mayor Johnson is a tool being used against the poor and middle class. Illinos had a population projection of negative. Those who can leave – are. It is so wrong that the ones who can least afford to be without police and services – are paying the most to give everything to people who are criminals just by being here illegally. My gosh – Illinois – WAKE UP. It is true – the hatred of Trump blinds the realty of the destruction of freedom and taxation beyond imagination.
So for all the mismanagement. We have to pay more. Maria Pappas needs to rethink her statement How about you look at the budget and start slashing the fat. How about making our streets safer and how about caring for the owners who live here. These taxes need to be rolled back. Where did all the money go that we received for the illegal immigrants. Millions. Not happy and all of you should be looking for new jobs because I and hopefully others will be looking for new leadership.
You can certainly tell when nothing but Trumper’s leave comments. What makes anyone think Trump or the elected republicans give a damn about anyone but themselves and holding on to power. What do any of them do for you? Say whatever you want to say back….makes no difference to me. I live in a red state and the same crap goes on here. What has Desantis done for Florida? Nothing!
It’s become painfully clear that the Black Tax is in full effect strategically squeezing Black communities harder than their Brown counterparts. And let’s be honest: this isn’t a Trump issue. This is a city and county engineered crisis. I spoke with Fritz Kaegi, he told me “Just because the assessed value goes up does not mean the taxes will go up.” That is true if you lower the tax rate. The tax rate in Black communities is as high as 46% while much more expensive properties in white areas may only have a tax rate of 7%. Needless to say the tax rate did not go down. I’ve watched this unfold quietly for five years. Quiet no more.
The Cook County Land Bank (CCLB) and a handful of mega tax-forfeiture buyers are positioned to scoop up the lion’s share of defaulted properties. And with these sudden, staggering tax hikes, we’re on the brink of the largest land grab since treaties were signed with Native Nations. Pay attention. Shadow buyers can acquire forfeited properties through Delaware LLCs or trusts—meaning the true architects of this disaster are hiding behind paperwork while families are being pushed out. What we do know is this: in some neighborhoods, property taxes jumped from $9,000 to as high as $16,000 a year.
Tell me—how many people have an extra $600/mo with no increase in services.