Among about 3,100 U.S. counties, Lake ranks fifth in the damage done to future home values as a result of the cap on property tax deductions enacted two years ago. – Crain’s

Cook County isn’t far behind, though among Chicago’s metro-area counties it’s taking the smallest hit. That’s in large part because Cook County has the smallest proportion of homes whose property tax bills are over $10,000, the new limit for deducting state and local taxes on federal filings. Of nearly 3,100 U.S. counties, Lake County ranks fifth for lost home value in the wake of the tax law changes, according to a list compiled by Mark Zandi, chief economist of Moody’s Analytics and published earlier this month by ProPublica. Cook County ranks 36th, putting it in the top two percent of the nation's hardest-hit counties.