Property tax hikes implemented poorly

Many Homeowners in Cook County recently received a 2025 Reassessment Notice in the mail, which will no doubt result in sticker shock when they receive the First Installment of their property tax bill in spring of next year. The 2025 Assessed Market Value (AMV) of our home went up 47% from the previous value with no corresponding taxable change to our building or property. AMVs of other properties in the area have also drastically increased anywhere from 20% to 50%. Myself and many of my neighbors have appealed their assessment, and I have yet to find any that have received satisfaction from the Assessor’s Office in the form of a reduction in AMV. That means the next stop for me and numerous others will be The Board of Review, which I expect will be overwhelmed with appeals.

I suspect this drastic increase may not be palatable for many already struggling to make ends meet, especially when considering that property taxes constitute one of the greatest annual expenditures for many homeowners.

I understand that property taxes are a necessary evil. But the bottom line is that such a drastic increase should not have been implemented in this way. It would have been better if the County implemented a plan for a more gradual increase that would allow homeowners more time to plan and react. We wonder why many young people can no longer afford to purchase a home. Now some new homeowners may start to wonder if they can afford to stay in the home they just bought. Our tax bills indicate that the majority of the property taxes go to our local school districts. But I find it hard to believe that our local school districts require such a huge bump in tax revenue. Clearly some transparency and disclosure is in order.

John Roller

Arlington Heights