BEFORE GETTING UP INTO THE MID 40'S TOMORROW.
IF YOU REALLY WANT SOMETHING SCARY THIS HALLOWEEN OPEN UP THE LATEST INSTALLMENT OF YOUR PROPERTY TAX BILL.
IT MIGHT BE ESPECIALLY SPOOKY IF YOU LIVE IN THE NORTH OR WEST SUBURBS, WHICH HAVE SEEN THE HIGHEST AVERAGE YEARLY SPIKE IN PROPERTY TAXES IN DECADES.
ACCORDING TO A NEW STUDY, SOME HOMES HAVE EVEN SEEN THEIR TAXES.
DOUBLE FROM THIS YEAR TO LAST.
>> THIS SUBURBAN DES PLAINES HOME SAW ITS PROPERTY TAX BILL GO UP 101% FROM LAST YEAR.
THIS HOME ON THE SAME BLOCK WENT UP 109%.
THE MEDIAN PROPERTY TAX BILL AND COOKE COUNTIES NORTH AND NORTHWEST SUBURBS WENT UP 15.7% THIS YEAR OVER LAST.
ACCORDING TO A NEW STUDY RELEASED BY THE COOK COUNTY TREASURER'S OFFICE.
THAT'S THE LARGEST PROPERTY TAX INCREASE FOR THAT PART OF THE COUNTY IN 30 YEARS.
THE STUDY SHOWS A SHIFTING OF THE TAX BURDEN FROM COMMERCIAL TO RESIDENTIAL PROPERTIES DESPITE COOK COUNTY ASSESSOR, FRITZ CAGES, CAMPAIGN PROMISES TO SHIFT IT IN THE OTHER DIRECTION IN ALL UNITS OF GOVERNMENT IN COOK COUNTY COLLECTED 1 BILLION DOLLARS MORE IN PROPERTY TAXES LAST YEAR.
SO THE QUESTION IS WHERE THEY GO UP.
WHY DID THEY GO ON?
WHY DID THESE ADDITIONAL GOVERNMENT'S REQUEST MONEY?
THE SUBURBS WITH THE LARGEST INCREASES WERE ROSEMONT 32%.
>> SCHILLER PARK AT 29.7% AND DES PLAINES.
A 28.7% PART OF THE REASON PROPERTIES IN THE NORTH AND WEST SUBURBS HAD THEIR VALUES REASSESSED LAST YEAR.
FACTORS INTO THIS YEAR'S PROPERTY TAX BILLS ASSESSOR.
KATIE'S OFFICE SAYS IT INITIALLY REASSESSED COMMERCIAL PROPERTIES HIGHER THAN RESIDENTIAL, BUT THE BURDEN SHIFTED AFTER THE COOK COUNTY BOARD OF REVIEW REVISE THOSE ASSESSMENTS.
IN A STATEMENT, THE OFFICE SAYS, QUOTE, BECAUSE GROWTH AND RESIDENTIAL PROPERTIES OUTPACE NON RESIDENTIAL ASSESSED VALUES.
THIS SHIFTED, WHO PAYS?
WHAT SHARE OF PROPERTY TAXES?
THE CITY OF CHICAGO'S REASSESSMENT HAPPENED IN 2021.
AND THE SOUTH AND SOUTHWEST SUBURBS ARE BEING REASSESSED NOW WHICH WILL FACTOR INTO NEXT YEAR'S PROPERTY TAX BILLS.
BUT AN EXAMINATION OF INDIVIDUAL TAX BILL SHOWS A MASSIVE INCREASE IN TAXES PAID TO NEARLY EVERY SCHOOL DISTRICT IN THE COUNTY.
ONE TREASURE PAPPAS SAYS HER OFFICE CONDUCTED THE STUDY TO THE PROPERTY OWNERS KNOW WHAT THEY'RE IN FOR THE MESSAGE HERE.
>> PARIS IS READ YOUR BILL.
IF YOU READ YOUR BILL, YOU'LL FIND OUT WHERE YOUR MONEY'S GOING TO.
>> AND THOSE BILLS ARE SET TO
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