In a recent analysis conducted by Cook County Treasurer Maria Pappas, it has been revealed that many south and southwest suburban homeowners in Cook County are grappling with unprecedented property tax increases. The Tax Year 2023 analysis, which scrutinized nearly 1.8 million tax bills, showcased a median bill surge of over 19% in the south suburban region, marking the highest percentage increase in nearly three decades.

According to data from the treasurer's office, taxes skyrocketed by 30% or more in 15 suburbs. Interestingly, of these suburbs, 13 have predominantly Black populations, as highlighted in a news release from Pappas' office on Thursday. Two towns, Dixmoor and Phoenix, witnessed a staggering median tax bill increase of over 100%, more than doubling the previous amounts.

The surge in residential property taxes has been attributed to a variety of factors, including the end of COVID-19 assessment reductions, rising home prices, and successful appeals by businesses to reduce their assessments. Homeowners are expressing shock and anger as they receive their bills, with many already burdened by some of the highest property taxes in Cook County. These increases will undoubtedly add further strain to their financial situations.

Of all the affected areas, Park Forest experienced the most significant impact, with the median residential bill soaring by 56% to reach $7,152. In Dixmoor, the median bill skyrocketed by 122% to $1,950, while in Phoenix, within a tax increment finance district, the median bill rose by 107% to $1,744, as per the news release.

Pappas emphasized that regardless of location, the tax bills serve as reminders of where taxpayers' money goes, listing the government bodies that receive these funds. The treasurer also highlighted the challenges faced by homeowners in the south and southwest suburbs, who often bear a greater tax burden due to higher property tax rates necessitated by school costs. Experts speculate that the higher tax burden in these areas can be attributed to fewer businesses, lower occupancy rates, and fewer high-priced homes.

As homeowners in Cook County's south suburban region brace themselves for the financial strain of record-high property tax increases, policymakers and local officials are urged to address these disparities and work towards developing solutions that provide relief for affected homeowners.