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New 20-year study shows property taxes are climbing higher than other bills

If it seems like your property tax tab is climbing far faster than your other bills, that’s because it is.

In the past 20 years, the total annual amount of property taxes billed by local governments in Cook County increased at nearly three times the rate of inflation, according to a new study out of the county treasurer’s office. The total tax tab went up by 99%, while the regional cost of living went up by just 36%, the study found.

Just as Lightfoot and other local government leaders stare down some of the biggest budget shortfalls in decades, Pappas is highlighting the swelling burden of the property tax, which school and municipal government leaders often view as their most reliable source of revenue despite its reputation as the third rail of Illinois politics for its unpopularity among voters…Please click here to read Hal Dardick’s story in the Tribune.

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