Cook County property taxes: Who's to blame for skyrocketing bills?

COOK COUNTY - Homeowners in Chicago's south suburbs are feeling the pinch of significant property tax increases, and Cook County Assessor Fritz Kaegi says part of the problem stems from tax breaks given to businesses.

In an in-depth conversation with FOX 32, Kaegi discussed the issues that homeowners are facing with their taxes, including the story of Darryl Lloyd, whose property was assessed at over $1 million, resulting in a tax bill increase of over 3,800 percent. Kaegi described Lloyd's situation as an isolated incident but acknowledged that many residents are struggling with high tax bills they cannot afford.

John Tennison, a Marine Vietnam veteran declared 100-percent disabled by the VA, showed his previous tax bill for his home on Lunt Avenue in Chicago, which was $0. Now, it's over $6,200, and he's pleading for help.

Tennison's case is not unique. FOX 32 spoke with four other homeowners, mostly in the south suburbs, who are dealing with increased property taxes in Cook County and have found no solutions.

Kaegi said that one-third of Cook County homeowners are missing their exemptions, which could mean their properties have been assessed incorrectly. He highlighted larger systemic issues at play, noting that the Cook County Board of Review has made significant reductions in commercial property assessments.

"This year, our assessments actually slightly reduced homeowners' share of overall assessed value, which would have meant their share of the tax burden slightly decreased," Kaegi said. "The real story is the Cook County Board of Review reduced commercial properties by $1 billion, leading to dramatic decreases in commercial bills for companies like Walmart and Home Depot, while residential neighbors' bills increased significantly. Cuts like that added four percentage points to the tax burden on homeowners, especially in the south suburbs."

FOX 32 reached out to the Cook County Board of Review for more details but has not received a response.

With 21 days until the tax bills are due, only 12 percent of the 1.7 million second installment tax bills sent out have been paid.