Chicago Tribune: Double-digit property tax increases in city, Cook County suburbs

[marmar]

Double-digit property tax increases in city, Cook County suburbs
By Bob Secter

Tribune reporter

6:17 a.m. CDT, October 27, 2009


Most Cook County residents are in for another round of sticker shock when new property tax bills arrive in the mail in a few days, with the median increase in many suburbs topping 10 percent and, in a handful, 20 percent.

Median increases in many city neighborhoods will also hit double digits, with some lower income areas seeing the highest percentage spike. The median rise in the West Garfield Park neighborhood will top 46 percent, according to figures provided to the Tribune by Cook County Assessor James Houlihan.

In all, four out of five homeowners in the city and northern suburbs will get higher bills than last year, In the south suburbs, 64 percent of homeowners will see bigger bills, yet the median tax bills in several south Cook communities will actually decline year over year.

In Chicago, the median hike in residential bills will be about 3 percent, although the median increase in many neighborhoods will shoot significantly higher than that, a Houlihan spokesman explained.

As with any event involving property taxes, the size of bills and increases can vary dramatically from house to house, block to block and neighborhood to neighborhood. The median tax hike in any community is the middle point of all increases, with about half of homeowners facing higher hikes than the median and half facing less. ..........(more)

The complete piece is at: http://www.chicagotribune.com/news/local/chi-property-tax-27-oct27,0,3685132.story

[JonQ]

1. Ouch

that's going to hurt.

[On the Road]

2. Just the Thing to Help with High Foreclosure Rates

Not.