How High Are Cook County Property Taxes in 2024? (The BIG Impact)

How High Are Cook County Property Taxes in 2024? (The BIG Impact)

Cook County property tax bills have skyrocketed in 2024, leaving homeowners and businesses struggling. This video dives deep into the reasons behind the Cook County property tax increase, exploring the impact on different regions and property types. Find out why the Cook County property tax burden has shifted more towards residential properties, with some homeowners facing tax hikes of over 30%. We'll discuss the factors contributing to the Cook County property tax increase, including the removal of COVID-19 tax breaks, reassessment errors, and increased levies from government units.

Learn about the areas hit hardest by the Cook County property tax increase, and the efforts of local mayors to find solutions. We'll also provide insights into how to appeal your Cook County property tax bill and explore options for property tax relief in Cook County.

If you're a Cook County property owner, this video is essential viewing. Don't miss out on crucial information about the Cook County property tax increase and how it could affect you.

Timestamps:

0:00 - Introduction and overview of Cook County property tax increase
0:57 - Property tax increases by region
1:23 - How high are the property taxes in the suburbs and Chicago in 2024?
2:26 - Homeowner taxes declined in six municipalities
3:14 - Ford Heights tops the list for the highest tax increase
3:59 - What caused the high property tax?
5:05 - What keeps driving up property taxes in Cook County?
6:32 - Eight main factors behind high property values
8:14 - Assessor office made a mistake
9:29 - 2021 state law aimed at protecting local taxing districts
10:24 - Amount levied by government units
11:30 - Amount owed to TIF (tax increment financing) districts
13:09 - What's being done about the skyrocketing property taxes?
14:46 - Mayors trying to reverse changes
16:15 - Property tax bills due by August 1st

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DISCLAIMER: I am not a financial advisor. The contents in this channel are meant for informational purposes only. They do not constitute financial or legal advice.

Every effort has been made to only provide complete and accurate information, based on experience and speculation. But it may include errors. Just use this channel as a starting point towards an informed decision.

Always remember the risks in investing. I will not and cannot be held liable for any actions you take from the information here. Do your own research before deciding on anything.

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