Don’t say we didn’t warn you. The Cook County property tax bills went into the mail last week, and the aftermath hasn’t been pretty.
The City of Chicago hit property owners with a $588 million tax increase, with much of the money going to police and fire department pensions. Additionally, Chicago taxpayers got hit with reassessments, which are conducted every three years.
“More than tripled. The city’s piece more than tripled,” Logan Square resident Janelle Squire told Chicago’s ABC 7.
More increases could be on the way. A partial budget passed by state lawmakers allows Chicago’s public schools to raise property taxes to meet a $250 million in pension obligations.