Treasurer Maria Pappas Analysis Shows Record-High Property Tax Increases for South Suburban Homeowners

Lawndale News Chicago's Bilingual Newspaper - Local News

Homeowners in many south and southwest suburbs will have to pay a lot more in property taxes as the median tax bill jumped a record 19.9 percent in the region, according to an analysis released by Cook County Treasurer Maria Pappas. The biggest increases in homeowners’ tax bills occurred in 15 south suburbs where taxes soared 30 percent or more. Of those 15 suburbs, 13 have mostly Black populations. In two towns, Dixmoor and Phoenix, the median tax bill more than doubled. A research team created by Pappas released its Tax Year 2023 Bill Analysis, a detailed examination of nearly 1.8 million bills to be mailed to property owners July 2 and due a month later on Aug. 1. This year’s Second Installment bills include a new feature, “Where Your Money Goes,” that breaks down the amounts of money billed by each taxing district and shows whether taxes went up or down. Among key findings of the analysis:

• Across Cook County, property taxes rose about $706 million, climbing from $17.6 billion to $18.3 billion. Homeowners are shouldering an extra $611 million, or nearly 86 percent of this year’s increase, while commercial properties owe an extra $102.9 million and taxes on vacant land dropped by $7.8 million.

• In the south and southwest suburbs, where all properties were reassessed, taxes rose a total of $265.4 million. The median south suburban residential tax bill increased by 19.9 percent, the largest percentage increase in at least 29 years, according to Treasurer’s data. Homeowners bore the brunt of the increase as their taxes rose $396.8 million while taxes on commercial properties dropped by $121.6 million.

The analysis is the latest addition to the Pappas Studies, a series of examinations of the complex property tax system available at Property owners who don’t want to wait for their bills to arrive in the mail can pay their taxes online now at Partial payments are accepted.

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