Editorial: Cook County property taxes rose 3 times the rate of inflation. You good with that, voters? – Chicago Tribune*

"What all these taxpayers and communities have in common is being held hostage to a public pension system that is grossly overcommitted and ruinously expensive. 'Higher debt nearly always means higher property taxes,' says the report (from Cook County Treasurer Maria Pappas), 'whether those bigger tax bills come now or in years ahead.'"
1 Comment
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Susan
4 years ago

Property tax rates in Cook County are at least 50% lower in Cook County ~2%) than in collar counties (~3%). Imagine how many prospective buyers are disqualified, when property taxes on a median price home take more than 9% of median household income (national average less than 4% of hh income to p-tax). Imagine the effect on local economy when discretionary income of most households is reduced by 5% more than almost every other American household. Where should households cut back in order to afford that extra 5% to pay property taxes? Not eat out? Skip college savings? Get rid… Read more »

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE