Property Taxes: Where Are You on the Tax Burden Shift?

July 12, 2012 11:24 AM
 

On June 26, 2012, property tax rates for the next round of tax bills were announced in Cook County, Illinois.  As expected, most taxing districts in the county have rate increases.  For example, the City of Chicago’s tax rate increased by 10%, while some tax rates in suburban Cook County districts increased by more than 30%.  Do these tax rate increases mean automatic tax increases for property taxpayers?  Not necessarily.  The changes in the tax rates indicate a shift in the property tax burden that affects both residential and commercial properties…

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