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Cook County Homeowners Pay More | Real Estate News
Cook County homeowners are bearing the brunt of rising property taxes again, with residential rates up 5.3% for the fifth straight year—while commercial taxes barely ticked up 1.8%. The pandemic’s office vacancy crisis, fueled by remote work and high interest rates, has stalled recovery, pushing some buildings into apartments. North and northwest suburbs hit hardest, with apartment and industrial taxes also climbing. Overall, local governments collected $744 million more—up 3.9%—but over three decades, property taxes have surged 184%, far outpacing inflation at 91%. Many hikes stem from…
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