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, total taxes billed in all of Cook County increased 99%, rising from $7.85 billion in 2000 to $15.58 billion in 2019. In Chicago, total taxes billed increased 115% from $3.25 billion to $6.99 billion. In suburban Cook County, the total taxes billed increased 87%, from $4.59 billion to $8.59 billion.
In the top 5 residential increases in Chicago, by percentage, two properties are in the 1st Ward, two properties are in the 2nd Ward and one is in the 44th Ward. The top residential property increase in Chicago increased from $2,199.25 in property taxes in 2000 to $47,782.70 in 2019, a 2,073% change.
In the suburbs, three of the top 5 residential properties with the highest increases by percentage were in Winnetka, with the largest percent increase being 1,174%, moving from $53,014.39 in 2000 to $675,486.36 in 2020. A property in Buffalo Grove and one in Arlington Heights rounded out the top 5 residential suburban increases.
On the commercial side, by percent changed, three of the largest increases are in the 25th Ward and two are in the 23rd Ward. The largest commercial property increase was 10,255%, from 1,354.02 in 2000 to $140,214.95 in 2019.
On the commercial side in the suburbs, the five largest percent changes occurred as follows: one in Palatine, two in Palos Hills, one in Midlothian, and one in Elmwood Park. The largest increase was 9,454%, from $85.94 in 2000 to $8,210.45 in 2019.
To view a property’s 20-year tax history, property owners should click on the top of the homepage of the Cook County Treasurer’s website. A property owner can search by property address or Property Index Number to see information specific to his or her property or he or she can click on the links to see interactive maps of the Cook County suburbs or Chicago by Ward.