C
ook County's property tax collection rate has hit a 10-year low, with only 95.1% of taxes collected by September 1. This represents a 1.3% decrease from the previous year and leaves $225 million in uncollected revenue. According to Treasurer Maria Pappas' analysis, delinquent tax accounts surged by 13%, affecting nearly 196,000 property owners who failed to pay their full tax bills.
The south and southwest suburbs were hardest hit, with Ford Heights posting a collection rate of just 31.4%. Nearby Robbins and Harvey saw rates of 50% and 52.2%, respectively. Delinquencies rose by 27.7% in the south suburbs, where property taxes increased by as much as 122% in Dixmoor.
The treasurer's office attributes the low collection rates to a short tax bill interval and a record 19.9% increase in median residential tax bills for south suburban property owners. Taxpayers in majority Black south suburbs already carry a heavier burden than those in Chicago, and inflation and a faltering commercial real estate market have added economic strain.
"This is a crisis," Pappas said. "Many south suburban residents saw their tax bills jump thousands of dollars this year, forcing them to choose between paying taxes or basic necessities like food and medicine." The surge in tax delinquency threatens essential public services, particularly in struggling suburban communities where low collection rates already strain services like education and public safety.
realestate
Cook County sees record-low property tax revenue this year
Cook County's property tax collection rate drops to 95.1%, lowest since 2012, with $225M uncollected.
Read More - realestate
realestate
Rockford Housing Market Gains Momentum with New Hispanic Real Estate Partnership
City leaders expect NAHREP to boost Hispanic homeownership rates.
Read More - realestate
realestate
Commercial Real Estate Forum Held by Southeastern Association
Sandoval Economic Alliance holds partner luncheon at Quezada's Comedy Club, focusing on commercial real estate.
Read More
realestate
Oklahoma Legislation Shields Homebuyers from Unscrupulous Real Estate Deals
New Law Protects Consumers from Unfair Real Estate Deals, Explains AARP Expert