September 11, 2024
GROWING COMMUNITY MEDIA
AT HOME ON THE GREATER WEST SIDE A GCM GUIDE TO HOMEOWNERSHIP
Property tax hike got you down? A An income-based circuit breaker program could help
By DELANEY NELSON Special Projects Reporter
ustin, West Garfield Park and North Lawndale residential property values were reassessed earlier this year, meaning some homeowners will pay more on their 2025 property tax bills than they did in 2024. They’ll be in good company. Cook County property taxes rose an average of 4% this year, marking the 30th consecutive year of hikes, a Cook County Treasurer’s Office analysis showed. As property taxes rise, some policymakers and county officials are advocating for a new way to ease their financial burden: A circuit breaker program that serves low-income homeowners.
Economists classify property taxes as regressive because lower-income households pay a higher share of their income toward the tax compared with wealthier counterparts. In Illinois, the property tax system is based on assessed home value, meaning the 1.3 million homeowners who will pay more next year won’t all see the same percent increase on their bill. It also means property tax amounts are disconnected from homeowners’ ability to pay. The result? Lower-income homeowners struggle to keep up with property tax payments. The 19 highest tax rates in Cook County are in Chicago’s south suburbs, where the population is primarily lower-income Black
See TAX HIKE on page B3
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