Beginning in 2000, the Cook County Treasurer’s Office performed a 20 year study on property taxes termed “The Pappas Study”.

 

Overall, the study provided proof of what many Chicago property owners already know: property taxes have increased dramatically over the past 20 years.

 

The Pappas Study also illuminated the differences in property tax tab increases among the city’s 50 wards and between residential and business properties within those wards. Residential bills rose 116% while business property bills rose 81%, both outpacing the 57% average increase in wages.

 

Want to find out how your neighborhood’s property taxes compare? Below is a quick glance at a number of Chicago neighborhoods and their property tax increase from 2000 to 2019.

 

  • Pilsen – 257%
  • Streeterville – 121%
  • Lincoln Park – 129%
  • Wrigleyville – 127%
  • Uptown – 115%
  • Edgewater – 95%
  • Rogers Park – 53%
  • West Ridge – 56%
  • Sauganash – 71%
  • West Loop – 322%
  • Hyde Park – 77%
  • West Humboldt Park – 80%
  • West Garfield Park – 143%
  • Old Town – 135%

 

Chicagoland condominium, homeowner, and townhome community associations need skilled legal counsel to steer them through the property tax appeal process. Not only do association assessment appeals require careful analysis and preparation, but there are several agencies and levels in which to appeal.  Each one comes with its own caveats and pitfalls.

 

When your community association receives your property tax assessment notices, do not hesitate to contact our law firm. Our experienced attorneys have saved our clients over $100 million since 2015 by successfully reducing their property tax assessments. Please call 855-537-0500 or visit www.ksnlaw.com.

 

Since 1983, KSN has been a legal resource for condominium, homeowner, and townhome associations. We have four office locations, serving hundreds of clients and thousands of communities throughout Illinois, Indiana, and Wisconsin. Our attorneys are also licensed in Arizona, Florida, and Missouri.

 

Please note the material contained in this article is for educational and informational purposes only and does not constitute legal advice. No attorney-client relationship is established by your review or receipt of the information contained in this article. You should not act on the information discussed in this article without first obtaining legal advice from an attorney duly licensed to practice law in your State. While KSN has made every effort to include up-to-date information in this article, the law can change quickly. Accordingly, please understand that information discussed in this article may not yet reflect the most recent legal developments. Material is not guaranteed to be correct, complete, or up to date. KSN reserves the right to revise or update the information and statements of law discussed in the article law at any time, without notice, and disclaims any liability for your use of information or statements of law discussed on the article, or the accessibility of the article generally. This article may be considered advertising in some jurisdictions under applicable law/s and/or ethical rules/regulations. © 2021 Kovitz Shifrin Nesbit, A Professional Corporation.