Commercial property owners in Cook County, Illinois are getting hit hard by property tax bills that continue to soar according to a recent analysis of the 2020 tax bill. The second installment tax bills, which are due to be paid […]
There have been complaints about the property tax system in Cook County for many years, and in 2019, a new county assessor was voted in to reform the system. However, that reformation process has also caused many in the real […]
The Illinois House is considering a Senate bill that would provide a homestead exemption for first responders who suffer major injuries on duty. What Senate Bill 15-72 Provides This new bill, Senate Bill 15-72 would create a $5,000 homestead exemption […]
Skyrocketing property taxes are nothing new to Cook County residents. The cumulative effect of years of high property taxes is causing residents to rethink remaining in homes even though they have completed mortgage payments. Exemptions No Help Gentrification is also […]
There are many things that Illinois is known for, but one for which residents wish it wasn’t, was its high property taxes. And it has once again topped the list—ranking second behind New Jersey—on the list of highest property tax […]
City services are funded in a variety of ways, but two of the largest sources of income are property taxes and tax revenue from the businesses operating there. COVID-19 decreased the revenue provided from businesses impacting by the pandemic, so […]
Cook County Treasurer Maria Pappas recently released a study that looked at 20 years of property tax history in Cook County and found that there has been a drastic increase over the last two decades. What the Study Shows Overall, […]
Originally published in Tax Trends (September 2020, Vol. 64 No. 3) Summary Conclusion The impact upon the individual residential property owner’s tax bill of a non-Chicago property after a 100 percent increase to the taxes of all downtown Chicago commercial […]
As Illinois continues to grapple with restrictions put in place to lower COVID-19 cases, property owners are preparing to receive their first tax bill for the new year. Several counties are taking different strategic approaches in 2021 to ease the economic strain […]
Cook County property owners received notice that they were receiving a pandemic-related tax break, but that might not translate into much savings on the property tax bill. Why Tax Break Might Not Impact Tax Bills In April 2020, Cook County […]
