Homeowners in Cook County’s south and southwest suburbs are experiencing a sharp rise in their property tax bills this year, according to ABC 7 Chicago. This surge follows a recent property reassessment in the area. The increases are attributed to higher property values and the expiration of temporary COVID-19 tax discounts. For instance, Emma Archibong reported a $2,000 increase in her tax bill compared to the previous year. Cook County Assessor Fritz Kaegi attributes the hike to elevated property values and reduced exemptions.
A dispute has arisen between the Cook County Assessor and the Board of Review regarding the reasons for these substantial tax increases. Kaegi accuses the Board of Review of reducing taxes on commercial properties, which he claims shifted the tax burden onto homeowners. In contrast, the Board of Review asserts that their adjustments to commercial properties were based on accurate data and were necessary.
Managing High Property Taxes in Cook County
Residents are encouraged to review their tax bills carefully for any missed exemptions and to consider appealing their assessments for future years. While it’s too late to appeal this year’s taxes, homeowners struggling to pay their bills in full can set up payment plans. This situation highlights ongoing challenges with property tax assessments in Cook County.
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