Chicago homeowners curious to know how much more they’ll be paying in property taxes will have the answers to their questions in the coming weeks as the tax bills for this year’s second installment are mailed out. On average, Chicago homeowners will be paying 13% more than they were last year according to figures from Cook County Clerk David Orr’s office. For example, someone whose property is worth $225,000 can expect to pay an additional $413 per year, summing up to a property tax bill of $3,633, the Tribune reports. The hurt on homeowners won't stop anytime soon either. Property taxes will increase every year for the next four years to help plug the city’s police and firefighters pension crisis. Chicago Public Schools will also get millions to help cover construction expenses.
- Average Chicago property tax bill up nearly 13 percent [Chicago Tribune]
- Who Exactly is Affected by Chicago's Record Property Tax Hike? [Curbed Chicago]