Property taxes increased by $909 million in 2022

Property taxes increased by $909 million in 2022

November 29, 2023 3

Property taxes increased by nearly a billion dollars collectively between 2021 and 2022, according to Treasurer Maria Pappas' office.

A study put out by the office concluded taxes jumped from $16.7 to $17.6 billion due to increased local government and school spending, primarily.

"There are over 900 different governments in Cook County," said Pappas. "And, of those 900 governments, 672 raised their taxes."

The north and northwest suburbs saw the sharpest rises of more than 15%, but, this year, the south and southwest suburbs saw similar assessment-hikes thanks to the Triennial.

But, fully 81 percent of Cook County property owners saw their bills increase. $600 million of the $909 million total increase was carried by residential property owners.

That means, particularly if you own property in the north or south and western suburbs of Cook County, now is the time to have professionals take a look at your assessment and determine whether an appeal could save you some excess tax. 

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