Mailed on November 10th, safely after the November 2nd election, Cook County residents got their 2nd property tax installment bills Friday -- just before the weekend and two days of cooling off. We've heard from IR readers who say the second half of the year's amount due has increased up to 30 percent, despite their property valuations declining at the same time. For many that means an annual increase of $2000 or more for their residential property.
One reader wrote: "In 2008 my assessed value was 31,316 and in 2009 it went down to 30,063. My taxes on the other hand went from 2008 $4,185.36 to in 2009 $6,888.41."
Another wrote: "We just received our final 2009 property tax bill. Compared with what we paid in 2008, the amount of property tax we now have to pay has increased by a whopping 30 Percent! While the assessment level dropped from 16 percent to 10 percent, the property value basis was increased by an unbelievable 54 percent."
How did your residential property fare in Cook County property taxes? And will this financial hit in Cook County affect Governor Pat Quinn's attempt to raise personal and corporate income taxes in the General Assembly next week? Or will Quinn devotees in Cook County -- where Quinn won the governor's race last week -- continue to insist that people in Illinois just don't pay enough taxes?
More to come ...