CCT Maria Pappas. Analysis of 2020 Property Tax Bills

2020 Cook County property tax analysis: A heavier burden for businesses, Black and Latino suburban property owners

Businesses in Cook County and Black and Latino suburban property owners are bearing the brunt of 2020’s property tax increases, according to a first-of-its-kind analysis of nearly 1.8 million bills by Treasurer Maria Pappas’ office.

The county will collect more than $16.1 billion in property taxes this year. That’s an increase of $534 million, or more than 3.4%, from last year. Second Installment bills were posted online August 12 and will be mailed to taxpayers later this month.

The analysis, along with more than 100 pages of detailed tables on suburbs, townships and Chicago, is available at cookcountytreasurer.com. Key findings include:

• Commercial and industrial property owners in Cook County – in its suburbs and in Chicago – are carrying a heavier share of the increased tax burden. Businesses are being billed more than $7 billion, an increase of $410 million, or 6.2%. Homeowners are being billed $8.9 billion, an increase of $114 million, or 1.3%.

• Property tax increases are hitting majority Black and Latino communities – both their homeowners and businesses – the hardest. These communities make up six of the top 10 areas with the largest tax increases for homeowners and seven of the top 10 increase for commercial properties.

• In the south suburbs, where taxes are already greater than in other parts of Cook County, some property owners are paying three to five times as much in taxes as the owner of an equally valued property in Chicago.

“Our research shows that inequities in the property tax system persist, particularly for businesses and Black and Latino property owners, and especially in the south suburbs. The 2020 property tax increases are exacerbating financial stresses in these communities and thwarting economic progress and generational wealth-building,” Pappas said.