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."

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.

What's next: The Illinois Department of Revenue is working on a comprehensive property tax report with a summer deadline.

Go deeper

A new monthlong guerrilla ad campaign is hitting Chicago today to bring attention to small businesses that have been affected by tariffs.

Why it matters: According to surveys by the Council on Foreign Relations, 2 in 5 Americans mistakenly believe a tariff is paid by a foreign country.

• But research from the New York Fed says nearly 90% of the tariffs President Trump enacted in 2025 were paid by U.S. firms and consumers.
• The nonpartisan business group behind the campaign, Small Businesses Against Tariffs, says it's trying to clarify the record and spending six figures to do so.

Zoom in: The campaign is targeting Chicago, Detroit, Atlanta, Nashville and Newark because they are located in states hit hardest by tariffs, with Gov. JB Pritzker estimating Illinois saw about $8.7 billion in total damages.

• In Chicago, the campaign is highlighting entrepreneur Sari Wiaz, who created crinkly, fabric-covered Baby Paper and says she's had to raise her prices 20%.

State of play: The Supreme Court struck down Trump's tariff agenda last month, declaring most of it illegal.

• Yes, but: Companies and consumers have already paid hundreds of millions to cover the fees, and Trump has predicted refunds will be litigated in court for two years.

What we're watching

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🪧 Thousands gathered in Grant Park before marching through Chicago streets Saturday as part of the nationwide No Kings protests, carrying anti-ICE signs and calling for an end to the war in Iran. Area suburbs and neighborhoods also hosted rallies. Organizers estimated that 8 million people showed up to events across the U.S. (Block Club)

✝️ A group of suburban mayors is traveling to the Vatican this week to meet Pope Leo XIV and U.S. Ambassador to the Holy See Brian Burch. (Daily Herald)

⚾️ Sox rookie Munetaka Murakami has homered in each of his first three major league games. (MLB)

The 2025–26 Fighting Illini men's basketball team has punched its ticket to the NCAA Final Four for the first time in over 20 years.

The big picture: This squad has entered the debate for the best Illini team of all time after a dominant performance in the South Region that whipped the Champaign-Urbana campus into a frenzy.

By the numbers: The team becomes just the third in modern history to reach the Final Four, following in the footsteps of the 2004–05 and 1988–89 rosters.

Yes, but: Neither of those teams won it all.

What's next: The Illini will play UConn next Saturday.

Illinois is putting its own stamp on the country's 250th birthday.

The big picture: 2026 marks the country's Semiquincentennial, 250 years since the Founding Fathers signed the Declaration of Independence.

• President Trump has heralded the celebrations planned in the nation's capital, while Illinois and Chicago have launched their own calendar of commemorative events.

The latest: Illinois has introduced a passport, highlighting nearly 60 museums, parks and historic markers that highlight "diverse people and places that have contributed to making good on the ideals of the Declaration of Independence," said Illinois America 250 Commission chair Gabrielle H. Lyon in a statement.

How it works: You can pick up a passport at spots across the state or take the more modern approach and download it.

Some highlights outside Chicago include:

• Cahokia Mounds, one of three UNESCO World Heritage Sites in Illinois. Located in the southwest corner of the state, the largest pre-Columbian settlement north of Mexico demonstrates the Native peoples' deep connection to the land.

City events: "Letters to America" is a Chicago Public Library project asking visitors to document 2026 by writing letters to be archived that tackle themes including "Chicago's place in the U.S." and how "Chicago culture has shaped us."

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