Property taxes in Cook County increased at double the rate of inflation and well above the rate of wage growth during the past 30 years, a study by Cook County Treasurer Maria Pappas found.
Local governments in Cook County imposed $19.2 billion in property taxes in 2024, up nearly 182% from the $6.8 billion taxed in 1995, according to the report.
During those three decades, inflation rose by 91%, while average wages grew by about 161%. That means property owners now must devote a larger percentage of their earnings to taxes and, if the trend continues, even more in the future.