Cook County Property Taxes Skyrocket, Outpacing Inflation and Wages

Treasurer Maria Pappas calls for state lawmakers to pass significant tax reform and find ways for local governments to cut spending

Mar. 30, 2026 at 10:38am

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A new study by Cook County Treasurer Maria Pappas has found that property taxes in Cook County have grown at twice the rate of inflation over the past three decades, forcing home and business owners to pay an ever-increasing share of their earnings to local governments. The study notes that property taxes have increased by 182% since 1996, while inflation rose by less than 91% and average wages grew by 161% during that time. Pappas is calling on state lawmakers to pass significant tax reform and find ways for local taxing agencies to cut spending.

Why it matters

The relentless increases in property taxes are putting a major financial strain on homeowners and businesses in Cook County, with many struggling to afford their tax bills or even remain in their homes. Illinois already has the highest residential property tax rate in the nation, and Chicago has the highest commercial rate, underscoring the urgent need for reform.

The details

The study found that a key driver of the property tax increases has been the growth of special taxing districts, where a portion of property tax revenue is set aside to subsidize private development and job creation. Taxes in these tax increment financing (TIF) districts have grown by more than 1,000%, exceeding $1.8 billion in 2024. Additionally, taxes imposed by K-12 school districts have increased by 189%, far outpacing inflation and wage growth.

  • Over the past 30 years, from 1996 to 2026
  • Property taxes in Cook County grew by 182% to $19.2 billion in 2024
  • Inflation rose by less than 91% during that time period
  • Average wages grew by 161% over the 30-year period
  • Illinois had the highest residential property tax rate in the nation in 2025

The players

Maria Pappas

The Cook County Treasurer who released the study calling for property tax reform.

Illinois Department of Revenue

The state agency that is working on a comprehensive property tax report.

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What they’re saying

“The annual increases in taxes are relentless, taking more and more money out of peoples' pockets. I see it every day in my office, with people wondering how they are going to pay their tax bills or even whether they can stay in their homes.”

— Maria Pappas, Cook County Treasurer

“Illinois in 2025 had the dubious distinction of having the highest residential property tax rate in the nation. Chicago also has the highest commercial rate in the U.S. It's time for the governor, state lawmakers and local government leaders to come up with a reform plan that works for taxpayers — rather than produce another report that gets put on a shelf to gather cobwebs.”

— Maria Pappas, Cook County Treasurer

What’s next

The Illinois Department of Revenue is working on a comprehensive property tax report, and state lawmakers are expected to consider tax reform proposals in the coming legislative session.

The takeaway

The dramatic rise in Cook County property taxes, far outpacing inflation and wage growth, has put a major financial strain on homeowners and businesses, underscoring the urgent need for state lawmakers to pass significant tax reform and find ways for local governments to cut spending.