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Are real taxes in Cook Country finally coming down?

What are you a f-cking moron? You didn't know?

We've got lots of new friends coming to roost in Chicago and fewer businesses and workers to pay the bill. That means more taxes for those of you left on the ship.

Tax hike coming

Axios News

Property taxes across Cook County rose 5.4% for 2022, with homeowners shouldering the majority of the increase.

Why it matters: Many people had expected commercial property owners to take on more of the tax burden.

What's happening: Property tax bills, a major expense for most homeowners, should be hitting mailboxes this week.

Zoom in: The amount to be paid by all Cook County homeowners rose by $599.1 million — about two-thirds of the overall increase, according to a new analysis by Cook County Treasurer Maria Pappas' office.

  • Commercial owners are picking up about a third of the increase, the analysis said.

👀 The intrigue: The median residential bill in the north and northwest suburbs rose by 15.7% — the largest increase in at least 30 years.

What they're saying: A spokesperson for the Cook County Assessor's office said decisions by the County's Board of Review contributed to the bigger hit to homeowner bills: Successful appeals dropped non-residential taxes by 20% and residential by only 2%.

  • "Because growth in residential properties outpaced non-residential assessed values, this shifted who pays what share of property taxes," the spokesperson tells Axios.

🧠 Be smart: It's not just changes in building values that affect property taxes.

  • The Treasurer's report found that levies for school districts were the primary driver of the latest increases.

  • TIFs and the recent "recapture" law that lets taxing bodies recoup money lost when people successfully appealed their bills the previous year also contributed to the increases.

Between the lines: "Out of 940 units of government in Cook County, 676 increased their levies," treasurer Maria Pappas tells Axios. "Read your bill to see where the monies go."

What's next: Payments on the new bills are due Dec. 1.

The assessor divides the county into three parts — the city, northern burbs and southern burbs — and reassesses each every three years. Next year they take on the suburbs south of North Avenue.

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