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Chicago Property Taxes Going Up, But By a Little Less

cook-county-tax-rates-increasingYour property tax bill is coming and – it will come as no surprise – it’s going to be bigger than it was last year.

But here’s what passes for the good news: In Chicago, property taxes are going up by less than they did last year.

The rates, released by the Cook County Clerk’s Office, show that the average property tax bill for homeowners in the city will be about 2.75% higher than last year, or about an extra $110 for the owner of an average single-family residence with a market value of $224,500.

Last year’s tax hike cost that same homeowner an additional $363 – an increase of 10 percent.

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