Politics
Property Taxes in Cook County Soared at Double the Rate of Inflation During the Last 30 Years: Report
A row of homes in Chicago’s North Center community. (James Andrews / iStock)
Property taxes in Cook County soared at double the rate of inflation between 1995 and 2024, according to a new report from Cook County Treasurer Maria Pappas.
Taxing agencies — including schools, parks, libraries and cities — sent property tax bills totaling $19.2 billion in 2024, up more than 180% from the $6.8 billion taxing districts required property owners to pay in 1995, according to the report.
During the same period, inflation rose by less than 91% and average wages grew by 161%, according to a new analysis from Pappas’ research team.
Pappas, who is running for reelection as Cook County treasurer and is weighing a bid for Chicago mayor in 2027, called on state lawmakers to “pass significant tax reform and find ways for local taxing agencies to cut spending.”
“The annual increases in taxes are relentless, taking more and more money out of people’s pockets,” Pappas said.
The astronomical increases in property taxes came despite a state law that is designed to limit property tax increases. Elected officials “exploited loopholes” in order to boost revenue, Pappas said.
The report singles out the massive increase in property tax bills levied on properties in tax-increment finance districts, which grew by 1,000% between 1995 and 2024, according to the report.
In addition, increases approved by school districts also fueled the overall growth in property tax bills, soaring 189% between 1995 and 2024, according to the report.
“The thirst for property tax dollars comes as Illinois gives a lower percentage of money to schools than any other state and as it has cut the percentage of income taxes it shares with cities, villages and towns,” according to the report.
Contact Heather Cherone: @HeatherCherone | (773) 569-1863 | [email protected]
