"During the past decade, Chicago’s commercial property taxes have jumped 93 percent. The city taxes commercial properties at 3.78 percent of their value each year—the nation’s second-highest effective tax rate and more than double the average for the largest cities in each state...Chicago can’t expect to attract new businesses while imposing oppressively high taxes. Fueled by unchecked local government spending, Chicago’s companies and iconic landmarks face a relentless, uphill financial battle. Business prospects will remain thin until the situation is addressed. "
There’s literally only one way out of this mess for Cook County, Chicago and the state in general – dump the public sector union parasites. Fire everyone. Privatize it all. The union ticks are so deeply embedded in the governance, the constitution and voting block they will destroy everything in their insatiable appetite for more. IL is like a house being eaten by termites within the walls, still standing but ready to crumble. You must take away their food source – the jobs. Replace it all with outside competitive vendors, A.I., anything….just get rid of the parasites. Let them have… Read more »
Maybe because none of the Dems in Illinois have an IQ above 80?!
Bunch of corrupt lying mooching POS IMO.
JackBolly
2 years ago
Marxist Democrats believe (they are an ideology) in the confiscation of private property by the government. Obama reminded all of us about this with his ‘you didn’t build that’ speeches. Marxist Democrats like Obama, Pritzker and Johnson fully believe they are more virtuous than most, so therefore are granted the right to decide what is best to do with private property, e.g. give it to the teachers union, who launder it and return a good chunk back to Democrat pols that took it. Sadly, the ugly trend of private wealth confiscation by Democrats in Chicago and IL will continue for… Read more »
debtsor
2 years ago
Last year I believe I linked to a dozen or so empty commercial and light industrial properties throughout Cook County with property taxes so high they would make Karl Marx himself blush. Many of these smaller commercial properties – especially in the suburban business parks – are owned by small family trusts or family businesses, not Blackrock. It’s extremely difficult to sell these properties because the taxes, before the mortgage or maintenance – often exceed the going rents. Here’s an example of a vacant ‘Pizza Hut’ in Bridgeview at 79th and Harlem. Look at the insane tax history: 2022: $31,014.84*… Read more »
Here’s a 14,000 sq foot warehouse in Des Plaines. It’s currently a granite countertop warehouse. The best use for the property is storing polished rock.
Here’s a dumpy 7,000 sq foot industrial building with a small office in an light industrial park in Elk Grove Village. Nothing fancy, small loading dock.
That’s insane, over $2,000 a month just for taxes. These are small businesses in dumpy warehouses. No wonder few can open small businesses in Cook County these days.
As commercial properties become vacant, they will file for assessment reductions. This will lower the overall taxable EAV and therefore raise property tax rates.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
There’s literally only one way out of this mess for Cook County, Chicago and the state in general – dump the public sector union parasites. Fire everyone. Privatize it all. The union ticks are so deeply embedded in the governance, the constitution and voting block they will destroy everything in their insatiable appetite for more. IL is like a house being eaten by termites within the walls, still standing but ready to crumble. You must take away their food source – the jobs. Replace it all with outside competitive vendors, A.I., anything….just get rid of the parasites. Let them have… Read more »
What an excellent idea, but you have to wonder why nobody with an IQ higher than 80 has ever proposed it.
Maybe because none of the Dems in Illinois have an IQ above 80?!
Bunch of corrupt lying mooching POS IMO.
Marxist Democrats believe (they are an ideology) in the confiscation of private property by the government. Obama reminded all of us about this with his ‘you didn’t build that’ speeches. Marxist Democrats like Obama, Pritzker and Johnson fully believe they are more virtuous than most, so therefore are granted the right to decide what is best to do with private property, e.g. give it to the teachers union, who launder it and return a good chunk back to Democrat pols that took it. Sadly, the ugly trend of private wealth confiscation by Democrats in Chicago and IL will continue for… Read more »
Last year I believe I linked to a dozen or so empty commercial and light industrial properties throughout Cook County with property taxes so high they would make Karl Marx himself blush. Many of these smaller commercial properties – especially in the suburban business parks – are owned by small family trusts or family businesses, not Blackrock. It’s extremely difficult to sell these properties because the taxes, before the mortgage or maintenance – often exceed the going rents. Here’s an example of a vacant ‘Pizza Hut’ in Bridgeview at 79th and Harlem. Look at the insane tax history: 2022: $31,014.84*… Read more »
Here’s a 14,000 sq foot warehouse in Des Plaines. It’s currently a granite countertop warehouse. The best use for the property is storing polished rock.
Look at the taxes:
2022: $27,261.31*
2021: $49,566.02
2020: $63,279.09
2019: $53,742.50
2018: $58,690.43
https://www.loopnet.com/Listing/1628-Rand-Rd-Des-Plaines-IL/27393242/
Here’s a dumpy 7,000 sq foot industrial building with a small office in an light industrial park in Elk Grove Village. Nothing fancy, small loading dock.
2022: $14,199.21*
2021: $25,816.75
2020: $24,869.42
2019: $22,641.49
2018: $40,946.62
https://www.loopnet.com/Listing/2082-Estes-Ave-Elk-Grove-Village-IL/26790456/
That’s insane, over $2,000 a month just for taxes. These are small businesses in dumpy warehouses. No wonder few can open small businesses in Cook County these days.
As commercial properties become vacant, they will file for assessment reductions. This will lower the overall taxable EAV and therefore raise property tax rates.
https://www.cookcountyassessor.com/form-document/assessors-vacancy-policy
(Note the specificity of this post-Berrios-Pritzker-vacant-mansion residential vacancy assessment reduction requirements).
BJ The Race Clown has no choice but to raise taxes, to pay for his communist wish list