Property taxes go up 46% to 100% in one year and the average Cook County employee's salary went from 71,000 in 2020 to 89,000 in 2022. An $18,000 raise in 2 years while people can't pay their taxes. How much of a raise have you received in the last 2 years?
You're paying $10,000 to $15,000 a year for real estate tax and your home value is $200,000 to $300,000. That's a $1,000 a month. Many people are paying 2,000 to 4,000 a month based on home value in Cook County.
That's 35% of your monthly take-home pay. It only gets worse the more your home is valued at. Your homeowner's exemption is gone due to property tax increases. Home values in Cook County are going down because no one wants to move to Cook County and pay the taxes.
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There are 29 Townships in suburban Cook County. Look at your real estate tax bill and see how much your Township taxes are. There are 8 to 10 more taxes on your real estate tax bill. There are layers of county government all taxing you.
Cook County will not survive past 2030. Cook County lost 300,000 taxpayers from 2020=2022. If 150,000 taxpayers leave Cook County each year for the next 5 years that's another 1 million taxpayers gone.
You can lose your home to back taxes. Investors are waiting to buy it for taxes. There's over 125,000 people who are behind paying real estate taxes.
