Cook County releases property tax rates

November 8, 2010 (CHICAGO)

The tax bills are scheduled to be mailed out Wednesday and some homeowners will feel the impact of both a diminishing discount and the appeals of other homeowners.

In Cook County, officials have determined the rates for the 1,500 taxing districts. Download the 2009 Tax Rates (PDF) from For the most part, the districts are not getting more money-- but more homeowners and business owners than ever have appealed and those who got their taxes reduced may pass along the cost of running their district on to their neighbors.

"If you received a large decrease in your assessment and no one else got a decrease on the assessment you're gonna pay less because everyone else is going to have to pay more because you're going to pay a smaller share towards the amount of money the taxing districts are to collect," said Bill Vaselopulos, manager of tax extensions for the Cook County Clerk's Office.

On Monday, Vaselopulos explained the tax rates for 2009. He said there has been a decrease in the homeowner's exemption as is expires. For example:

  • In the city of Chicago, a $20,000 homeowner exemption means a home with a fair market value of $200,000 would see a bill for $2,193;
  • In south suburban Cook County, a $26,000 homeowner exemption means a bill for $2,898;
  • And in north suburban Cook with $20,000 homeowner exemption would mean a bill for $3,318.

    "They were discounted all these years and now it's being applied and being phased in over time," said Vaselopulos. "It's stepping down after these years at some 20 to 16, from 16 to 12, so the next couple of years we will continue this step down."

    Later this week, homeowners will find out how the rates impact their household.

    "We are completing the process of folding and inserting the tax bills which will be in the mail probably in the morning on Wednesday. We have a holiday on Thursday so taxpayers will start seeing these bills on Friday," said Joe Fratto, Cook County Treasurer's Office.

    The bills are due by December 13.

    Meanwhile, the first installment of 2010 will come out in January and is due by April 1. Officials said a majority of those who appealed got their taxes reduced; in 2009, nearly 80-percent of residential property that appealed to the board of review got reductions.

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