He was elected as an outsider and reformer. Eight years ago, Kaegi beat incumbent Joe Barrios with a promise to clean up corruption and change a regressive system that over-assessed lower-valued properties and under-assessed commercial properties.
"We've made tremendous progress on all those areas, University of Chicago study showed we'd almost eliminated regressivity, saved the bottom 70% of homeowners $2 billion," Kaegi said.
But Kaegi's progress took a twist. Last year, homeowners on the South and West sides of Chicago were shocked to find property tax bills that doubled or tripled.
"Those taxpayers are right on the road to property tax foreclosure. A good portion of them will flat out lose their homes," said Hynes, a Democratic candidate.
Opponent Hynes blames Kaegi, a former mutual fund manager, for not having the experience to do the job correctly. With endorsements from major unions, the Cook County Democratic Party and some South and West Side alders, Hynes says his experience as an appraiser and two decades in the Cook County Assessor's Office makes him more qualified. He is currently the Lyons Township assessor.
"I've been in every community in this county, from the top to the bottom, on the front lawns, assessing property," Hynes said.
Hynes says knowing each Cook County parcel and having competent people in the assessor's office to analyze the data are the keys to credible assessments. But, Kaegi says recent spikes are caused by the Cook County Board of Review giving commercial properties reductions, including Trump Tower.
"Seven hundred dollars was passed on to every single homeowner in Chicago this year because of big reductions like that on big commercial buildings that they didn't deserve," Kaegi said.
Hynes disagrees; he says fair assessments start with the assessor. In what is shaping up to be a tight race, Kaegi has been endorsed by both Illinois senators and eight congressmen and women. His campaign is focusing on Hynes' campaign donations.
"My opponent's funded by the property tax appeals lawyers, taking all sorts of money from MAGA donors and big developers," Kaegi said.
"This is merely a distraction by a failed assessor," Hynes said.
While Kaegi is critical of Hynes donations, the assessor has raised over $2.5 million compared to just over a million raised by Hynes.
Kaegi's biggest donations come from his own pocket.