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.
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