The Cook County Treasurer's Office released a scathing report this morning explaining why property tax bills have gone through the roof.

Why it matters: The report says Chicago homeowners' median tax bill went up nearly 8% since 2020.

• Many residents already felt the sticker shock when bills went online in November, but others haven't yet seen them.
• The bills are being mailed to homeowners today.

The intrigue: In stark contrast to Cook County Assessor Fritz Kaegi's promise during election season, most residential properties saw tax increases — while most commercial properties saw decreases.

• The Assessor's Office blamed the higher tax bills on reversals at the Cook County Board of Review in a report.
• Another factor, according to the report, could be that Kaegi erroneously assessed properties lower during the pandemic when home values actually rose, leading to higher reassessments by the Board of Review.

By the numbers: In the city alone, taxes went up by about $468 million with homeowners picking up about 60% of it.

• CPS raised its tax levy by $114 million, the city received a new $94 million, and an extra $141 million went into Tax Increment Financing districts (TIFs).

What's more: Taxpayers are also paying more under a new law allowing local governments to "recapture" from the public any money it refunded to property owners who won appeals.

• The law, being called "an annual tax increase" by Cook County Treasurer Maria Pappas, added $131 million to bills across the county this year.

Zoom in: Gentrifying Latino areas, including Hermosa and Avondale, were some of the hardest hit.

• Taxes in the area around Pilsen surged 45%.
• North Side lakefront neighborhoods saw taxes rise at a faster pace than elsewhere in the city.

Yes, but: Many Black neighborhoods on the South and West sides saw their residential property tax bills drop dramatically, some by as much as 55%.

• "There are still inequities in our property tax system and we need to straighten it out,” Pappas said in a press release.

Ald. Roderick Sawyer wants more AIDS/HIV funds for Black-led organizations fighting an epidemic disproportionately affecting their communities.

Why it matters: Only a fraction of the $43.6 million spent by the CDPH on AIDS last year went to Black-led organizations.

• Today is World AIDS day, and a City Council health committee heard testimony calling for more equitable AIDS funding this week.

What they're saying: "It's easy to see the current funding model isn't working," Sawyer tells Axios. "The majority of the money goes to organizations that aren't part of our community, and we're left to sharecrop."

• "We need agencies that have cultural competency to address the crisis in our communities," Creola A. Kizart-Hampton, founding director of Black Leadership Advocacy Coalition for Healthcare Equity, said in a press release.

The other side: CDPH officials say their programs "regardless of who runs them or where they are located — prioritize services for Black and Latino gay, bisexual, and other same gender-loving men."

• But they insist federal funds must go to AIDS programs offering "medical treatment or housing" rather than prevention, which many Black-led organizations provide.
• Sawyer's backers don't agree with that interpretation of funding rules.

What's next: To remedy the imbalance, CDPH says it's "working to support Black-led organizations" with "technical assistance … and exploring opportunities for small organizations to expand their services to include areas where more funding may be available."

Of note: In the most recent reporting year (2020), Chicago saw its lowest number of new cases of AIDS since 1987.

What we're watching: Lacking a quorum at this week's Health Committee meeting, Sawyer says he'll bring it up at the next one.

🗳 Today, the Illinois General Assembly is poised to vote on an amendment that updates the SAFE-T Act. (Tribune)

🚨 The CPD is facing criticism for not doing enough to reform, as a new federal judge takes over the consent decree. (Sun-Times)

📺 Longtime TV executive Frank Whittaker is retiring after 46 years, 24 of those as station manager at NBC 5. (Crain's)

We're down to the final two entries in our weeklong tournament to crown the best downtown building in Chicago.

• It's a battle of Michigan Avenue office buildings built in The Roaring Twenties.

Wrigley Building vs. Carbide and Carbon

📫 The voting is open until 4:30pm. Pick a winner!

🌳 Branch out with our Job Board.

1. Associate Director, Legal Regulatory at Astellas.
2. Internal Communications Manager at Ardagh Group.
3. Advanced Analytics Product Owner at Chamberlain Group.

Want more opportunities? Check out our Job Board.

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Instead of fighting over our favorite foods this week, we're arguing over our favorite place to get a Christmas tree!

Monica's pick: I've used a fake tree for 15 years but love to visit my local Lakeview lot, Ivy's Christmas Trees. At Sheffield and Roscoe, Ivy Speck has been selling mostly Fraser firs for 32 years.

• There's something magical about the corner's piney perfume and watching families pick out just the right tree on a snowy night.

Justin's pick: I bought a fake white tree in 2015 for $200.

• Now in its triumphant seventh season, the tree has cost $28.57 a year!
• Sure it's getting rough around the edges, but still worth it!

If I had to buy a new one, I'd hit up the At Home store in Elmhurst. They have an awesome assortment of fake trees and huge inflatables.

📬 Which do you prefer? Take our poll.

• And hit reply to tell us where you get your tree.