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Friday, November 22, 2024

Treasurer finds a two-decade surge in property taxes for Cook County

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Matteson property taxes have increased by 266% | Stock Photo

Matteson property taxes have increased by 266% | Stock Photo

As Cook County residents see their property tax increase again, the county treasurer, Maria Pappas, assured that had been the case for the last two decades.

Neighborhoods such as South Roosevelt Road has grown a lot in the last few years but has been walloped with property taxes as Chicago's 3rd Ward has increased by 43% since 2000.

"This is a wake-up call. If you are not astounded by these results, then you're sleeping," Pappas told ABC 7 Chicago.

A resident who moved to the South Loop neighborhood 27 years ago talked about what the community used to be like.

"It was kind of a rough neighborhood, now it's great," he said.

After reviewing 80 million pieces of data starting in 2000, the Pappas study revealed the increase of property taxes that have increased by 87% in the suburbs and 115% in Chicago. In comparison, there was a 57% increase in average wages and 36% cost of living.

"It doesn't surprise me because my pay has stalled and everything else around me has increased dramatically, from groceries to property taxes," Jana Thompson, a Matteson resident, said, ABC 7 Chicago reported.

Matteson property taxes have increased 266%, which was the largest increase in Cook County suburbs.

"I'm strongly considering downsizing or moving out of the state altogether," Thompson said, ABC 7 reported.

Many Matteson residents have already moved to the surge in taxes.

"I have a number of friends and neighbors who are moving out of the city and even the state, and a lot related to taxes," Thompson said. ABC7 reported.

The hope for Pappas is that her study will force the government to have second thoughts on raising property taxes in the future and that it is a wake-up call to many residents and voters in the suburbs who vote on referendums that increase their taxes.

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