Cook County homeowners in these 15 suburbs will pay more in property taxes: treasurer
COOK COUNTY, Ill. - A recent analysis from the Cook County Treasurer's Office revealed that property taxes for some homeowners in the south and southwest suburbs will significantly increase.
Cook County Treasurer Maria Pappas said the median tax bill jumped a record 19.9 percent in the region after analyzing the second and final round of tax bills for the 2023 tax year.
The steepest increases in homeowners' tax bills were seen in 15 southern suburbs, where taxes surged by 30 percent or more. Of the 15 suburbs, 13 have mostly Black populations. In two of the suburbs, Dixmoor and Phoenix, the treasurer's office said the median tax bill more than doubled.
"Many homeowners are going to be shocked and angry when they get their bills," said Pappas. "South suburban homeowners already pay some of the highest property taxes in the county, and these increases will make paying those bills even more difficult."
The suburbs with the highest median increases are:
- Dixmoor: 122.44% median increase in amount billed to homeowner
- Phoenix: 106.86% median increase in amount billed to homeowner
- Calumet Park: 72.15% median increase in amount billed to homeowner
- Markham: 72.20% median increase in amount billed to homeowner
- Park Forest: 55.99% median increase in amount billed to homeowner
- Thornton: 57.96% median increase in amount billed to homeowner
- East Hazel Crest: 58.92% median increase in amount billed to homeowner
- Hazel Crest: 39.04% median increase in amount billed to homeowner
- Glenwood: 41.31% median increase in amount billed to homeowner
- Burnham: 36.37% median increase in amount billed to homeowner
- Harvey: 82.18% median increase in amount billed to homeowner
- Bedford Park: 49.07% median increase in amount billed to homeowner
- Riverdale: 46.95% median increase in amount billed to homeowner
- Sauk Village: 25.91% median increase in amount billed to homeowner
- Richton Park: 39.14% median increase in amount billed to homeowner
The analysis showed that property taxes across Cook County increased by approximately $706 million, rising from $17.6 billion to $18.3 billion. Homeowners are bearing the brunt of this rise, contributing an additional $611 million, or nearly 86 percent of this year's increase.
Meanwhile, commercial properties are paying an extra $102.9 million, and taxes on vacant land have decreased by $7.8 million.
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In the south and southwest suburbs, where all properties were reassessed, taxes increased by a total of $265.4 million. According to data from the treasurer's office, the median residential tax bill in the south suburbs increased by 19.9%, marking the largest percentage increase in at least 29 years. Homeowners were hit hardest, with their taxes rising by $396.8 million, while taxes on commercial properties decreased by $121.6 million.
In the north and northwest suburbs, taxes increased by $213.7 million, rising from $4.06 billion to $4.27 billion. Residential taxes went up by $109.8 million, while taxes on commercial properties increased by $103.1 million.
In Chicago, taxes saw a modest increase of 2.6 percent, primarily due to a higher Chicago Public Schools (CPS) tax levy and rising bills in numerous tax increment finance districts.
The treasurer's office said south and southwest suburban homeowners are being hit hard because a new assessment shifted 4 percent of the overall tax burden from businesses to them. This occurred because the 10 percent COVID-19 assessment reduction enacted in 2020 was eliminated, home selling prices are higher and businesses have had success appealing their assessments at the Board of Review, which handles appeals of valuations made by the Assessor's Office.
Additionally, the analysis showed that nearly 4,200 south and southwest suburban homeowners who didn't pay taxes last year will get bills this year because their exemptions no longer exceed the higher assessed values of their homes. The median for those bills was $1,115.
In total, only about 251,600 Cook County homeowners were billed less this year while taxes went down for nearly 28,000 commercial properties.
Illinois law permits school districts to raise taxes by either the previous year's increase in the Consumer Price Index (CPI) or 5%, whichever is lower. Since the CPI rose by 6.5% in 2022, school districts were allowed a 5 percent increase. However, the overall percentage increase was higher, partly due to a provision known as recapture.
Recapture, a 2021 provision in the Illinois tax code, allows school districts and many local governments to recover money refunded to property owners who successfully appealed their taxes the previous year. This year, recapture added an extra $136.3 million to bills, which is $51.9 million less than what was added to property owners’ bills last year.
For the full analysis and more information on Cook County property tax bills, go to cookcountytreasurer.com.