Chicago property tax bills going up 10 percent this year

From the Chicago Tribune: The average Chicago property tax bill is going up about 10 percent this year following City Hall and Chicago Public Schools tax hikes to pay for police, fire and teacher pensions, according to calculations released Tuesday by the Cook County clerk’s office.

As a result, the owner of a city home determined to be worth $224,500 will pay nearly $4,000 in property taxes this year — an increase of about $363.

The news is slightly better in suburban Cook, where the average homeowner can expect to pay anywhere from 3.9 percent to 6.5 percent more, depending on where they live, County Clerk David Orr determined.

And it’s a mixed bag for business property owners in the county. In Chicago, commercial parcels will see increases of about 9.3 percent, or $1,150 more for a property valued at $270,000. In suburban Cook, those bills are going down by about 4.2 percent in the north suburbs and up by about 3 percent in the south suburbs.

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