PRESS RELEASE from the
ILLINOIS POLICY INSTITUTE

CONTACT: Micky Horstman (312) 607-4977

Cook County property tax bills mailed today, due Dec. 1
Property owners will pay $909M more as median residential tax bill nears $5K

CHICAGO (Nov. 1, 2023) – After months of delay, Cook County property taxes were mailed to residents today, with the second installment due Dec. 1. Originally scheduled to be due Aug. 1, residents and businesses will now budget their payment next to an expensive holiday season.

In total, Cook County property taxes rose by more than $909 million, with tax bills rising for 81% of property owners countywide. The median residential bill went up 7.2% to $4,958.

Illinois Policy Institute experts are available for interviews to discuss rising property tax bills across Cook County and the state of Illinois.

Property tax highlights: 

• The highest increases this year were in the north and northwest Cook County suburbs, where property tax bills increased by 15.7% – the largest increase by percentage in 30 years.
• While those suburbs took the hit this year, a report from the Illinois Policy Institute found during the past 20 years suburbs on the south and southwest sides saw average property tax bills rise 127% – the steepest increase during that time.
• On average, commercial property taxes in Cook County have more than doubled in 20 years. Still, the bulk of the tax increase and tax burden has recently shifted to residential property owners.

“No amount of budgeting can prepare you for a nearly 50% increase in your property taxes over a year. It’s unfair to Cook County residents, who haven’t seen increased services for their increased payments,” said Josh Bandoch, head of policy at the Illinois Policy Institute. “Mayor Johnson upheld his campaign promise not to increase property taxes this year. To continue to fulfill that important pledge, he needs to set aside the proposed real-estate transfer tax because it would essentially be adding a one-time property tax on residential and commercial properties.”

To read more about Cook County property taxes, visit: illin.is/cooktaxes

For interviews or interviews, contact media@illinoispolicy.org or (312) 607-4977.