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The median homeowners in Cook County’s north and northwest suburbs saw their property tax bills rise 15.7% this year, according to a new study just released from Cook County Treasurer Maria Pappas’ office. The study also shows the tax burden shifting from commercial properties to residential properties, despite Cook County Assessor Fritz Kaegi’s initial campaign promises to shift things in the other direction.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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I’m paying $800 per month to live in Bowmanville. Just don’t ask me what I’m getting for almost 10K per year in property taxes.
If a small vintage wood-frame bungalow merits a $10,000 annual real estate tax bill, then many baby-boomer retirees dependent upon Social Security will no longer be able to afford to keep their larger homes.
They boomers on social security get the the senior freeze exemptions, their taxes get reduced by thousands.
It’s only going to get worse. As the commercial real estate market collapses and more and more buildings are vacant, and assessments of commercial real estate go down, the difference is made up by homeowners. Throw in the pension bomb, start saving your pennies for property taxes. Exactly what do you get for your property taxes and townships?
“Property taxes are perfectly legal, when they are applied to the entities they were written for. When you go look at your income tax law, it is always tied to property tax law. Pennsylvania comes right out and states in Title 61, Sections 153.1 and 155.1, here is their definition of Taxpayer. It’s an entity, organized and incorporated under the statutes, AND doing business in the state, or owning property in the state, or conducting activities in the state. That’s what a taxpayer is. And within that code they list 11 or 12 separate legal entities, they will break up… Read more »
What is your point???? Yea, we know property taxes are legal. It is the amount that is being discussed. GEEEZ, some people sure are thick!
“Years back when they started this a lot of people were farmers. So a guy might have a farm and 75% of his farm might be crops. The other 25% was his home. They knew they couldn’t tax his home where his family lived, so what did they give him? They gave him a homestead exemption. So this is what they have done with the homestead exemption, they have totally bastardized it.” – Alphonse Faggiolo
My neighbor just listed his house, 16 showings first weekend. He said a lot of the people were from Chicago. You’ve got high crime, high taxes what’s next?
Consider da Dems pols in Illinois and Sheeetcago and their masters da public sector unions like a Black Hole.
How do you stop da Black Hole from sucking in more and more of your wealth via higher and higher taxes.
Get as far away as you can from it.
Illinoisans, vote with your feet and flee da Illinois Black Hole!!
28% increase in working class des plaines? but there were Marty Moylan signs everywhere! Des Plaines votes Biden D+20! Des Plaines has abortion centers too! How can this be?
Lived in Des Plaines for 43 years – when the taxes got to be too much it was time to move on. $7k in taxes for a modest DP home? In 43 years I appealed every reassessment and still ended up paying $7K. Paid multiple my original purchase price in property taxes … several times over.
Crazy nuts.
Your property taxes might be $10k in Des Plaines. But they always vote blue no matter who!
Many of the suburbanites in North / Northwest Cook County have been moving their votes to the democrats very strongly over these past years. And also reflexively supporting whatever expansion their school districts propose without thought or fail. Well you have to pay for these decisions. No tears for those that go a known high end steakhouse and then crab about the bill. You made the decision to partake.
The suburbs have taken a really hard left in the past two decades, mostly through demographic changes and replacement politics. When did Des Plaines become 33% foreign born?
I have pointed this out many times as to what is happening in the Suburbs. They increasingly resemble a 3rd world enclave and this will accelerate.
Thanks for pointing this out. People need to be more aware of this reality.
It really depends on the suburbs. Glenview and Northbrook used to be the suburb for the elites who didn’t enough to live in the real north shore. Those residents from 25 years ago have mostly moved to warmer climates. The Koreans now are in charge. Still nice, but not nearly as recognizable. The area around Abt is entirely Korean, with dozens of late night Korean restaurants. On the flipside, 2 miles south is unincorporated Maine township, where according to Dickipedia, 4 out 5 children in the public schools speak a language other than english at home (mostly middle eastern or… Read more »
Well as long as their take home pay is going up 15% I don’t see an issue.
Oh dear! These increases are scary, to say the least. The real estate taxes in this state are already obscene,we all know that. And besides the high levels of crime and corruption, the nation, and even the world, know that about us. The increases discussed in this article are just more of that. The BURDEN of living in this state/ city continues to grow; with little measurable benefit; in fact, just the opposite is true. One thing that jumped out at me is the fact that the assessor re-assesses a PART of the county every period of time. I know… Read more »
You have the freedom to leave Chicago & Illinois.
The sympathy for those that continue to stay even after being told for years and years is zero.
Now suffer the consequences of living in Illinois.
PPF says “Pensions must be paid”. He is right and the homeowners will pay, pay and pay.
This is nothing compared to what the future is bringing. There is a huge pension time bomb exploding and will continue to explode for years to come. Only answer is to move while you still can sell your house. The equity of you home will be taxed out of it.
How about removing all of da toilets from your house to lower your property taxes.
Oh wait, Guv Pigchop already tried that and got caught!!
I’m not the one that says so. The US and Illinois constitution demands it. Pensions will be paid first.
Not by me, I am voting with my feet as hundreds of thousands already have. The high-income earners are fleeing in ever increasing numbers. Best of luck with the new poor immigrants paying the bills.
Don’t confuse PPF with facts.
Me thinks he has cognitive dissonance!!
Sure you are poor taxpayer. You’ve been saying that for years and yet here you are. You even changed you screen name because you’ve been lying for years that you were going to leave but you lack the ambition to make it happen.
He’ll likely never move. Complaining endlessly has become his go-to hobby. You can do so much if it from your couch here in IL.