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1h ago

Record 16.7% Jump Hits Chicago Homeowners as Loop Values Plunge

Predominantly Black neighborhoods on the South and West Sides are seeing the steepest increases as the tax burden shifts away from downtown commercial properties.

Homes in the south suburban Chicago area on April 26, 2023.
Loop buildings in the Chicago skyline are reflected in the Dirksen U.S. Courthouse, Sept. 2, 2025, along Federal Plaza. (Brian Cassella/Chicago Tribune)
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Overview

  • A Cook County Treasurer’s analysis shows the median Chicago homeowner bill rose 16.7% to $4,457, the largest percentage increase in at least 30 years.
  • Chicago homeowners will pay about $469.4 million more this year, while Loop commercial properties are paying over $129 million less following the 2024 reassessment.
  • Neighborhoods were hit unevenly, with median bills up roughly 133% in West Garfield Park, 99% in North Lawndale and 82% in Englewood.
  • Nearly 1.8 million bills were mailed Nov. 14 and are due Dec. 15, and payment plans of up to 13 months can be set up online starting Dec. 16.
  • Countywide taxes climbed by about $871.8 million to nearly $19.2 billion, with levy increases, TIF demands and the state recapture law adding to homeowners’ costs as residents organize protests and press for policy changes.