Why Cook County property taxes are so high
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Cook County property taxes have risen at twice the rate of inflation over the past 30 years, per a new study from county Treasurer Maria Pappas.
Why it matters: Property taxes represent one of the biggest cost burdens local homeowners face each year, and high taxes are often cited as reasons to leave town.
By the numbers: Cook County taxes grew by 182% to $19.2 billion from 1995 to 2024, according to the report.
- At the same time, inflation rose by less than 91%, according to the report.
- Average wages grew by 161%.
What they're saying: "Illinois in 2025 had the dubious distinction of having the highest residential property tax rate in the nation," said Pappas, who is widely expected to run for mayor, in a press statement.
- "Chicago has the highest commercial rate in the U.S. It's time for the governor, state lawmakers and local government leaders to come up with a reform plan that works for taxpayers — rather than produce another report that gets put on a shelf to gather cobwebs."
Between the lines: Cook County taxes have jumped despite state laws designed to rein them in, mostly because of increased levies from school districts and loopholes for tax increment financing (TIF) districts, which funnel tax increases to new developments, among other things.
- Those TIFs have ballooned over the years, growing more than 1,000% and "exceeding $1.8 billion in tax year 2024," the report says.
- Meanwhile, the report says school districts increased their levies by more than 189%, requesting more than $10.5 billion in taxes in 2024.
What's next: The Illinois Department of Revenue is working on a comprehensive property tax report with a summer deadline.
- Pappas is pushing for system reform, including finding ways for the recipients of tax money to cut spending.