"Property Tax Shock: North Suburban Homeowners in Cook County Face Record Increases"
Homeowners in several North and Northwest suburbs of Cook County are facing a significant increase in property tax bills, with an average rise of nearly 16%, the highest in 30 years. The increase is attributed to a combination of factors, including the elimination of a COVID assessment reduction, a devaluation in commercial properties, and higher school and park district levies. Reassessments occur every three years, and this year's valuations reflect a 28% rise in assessed home values. Second installment bills are due on December 1st.