Massive Property Tax Hikes Hurt Chicago's Low-Income Families
Chicago homeowners on the South and West Sides are facing huge property tax hikes due to surging assessments and government spending on pensions.
A recent investigation by Illinois Answers and the Chicago Tribune found that assessments have doubled or tripled for over 37,000 homes on the South and West Sides, leading to higher tax bills this fall.
- In Englewood, Roseland, and North Lawndale, median assessments jumped between 119% and 160%, far exceeding the 22% citywide median.
Even if I did sell, where would I go?
This issue is compounded by the fact that property taxes are the primary funding source for local governments, and Chicago is seeking more funding rather than reducing spending.
Author's summary: Chicago's low-income families face massive property tax hikes.
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