Businesses hit hard by new property tax assessments in the suburbs — but homeowners could catch a break – Chicago Tribune

Initial assessments are in, covering the north and northwest suburbs, and they show valuations for commercial, industrial and larger apartment properties increased by more than 74%, compared with less than 16% for homes, a Tribune analysis found.
The result may be a significant shift in how the property tax burden is divided up — with homeowners paying less and business owners paying more. A Tribune analysis shows that if Kaegi’s initial property values stand, businesses would pick up 44% of the combined taxes in those suburbs next year, up from 34% this year. That would shift 10 percent of the property tax burden from homeowners to businesses.
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Astonished
4 years ago

Percentage increases like that seem to suggest that the long-awaited acceleration into the ground has begun. Anyone care to wager on the over/under on the lag between IL’s accelerating decline and the mass exodus of CPT (Citizens who Pay Taxes?)

Pritzger’s ilk seem hell-bent on being kings of a cesspit.

joe strzalka
4 years ago
Reply to  Astonished

The Board of Review run things. They have the final say. The assessor is nothing more that the board of reviews bumbling administrative assistant.

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