Property taxes in Cook County have climbed much faster than inflation and wage growth over the past 30 years, a new study from the Cook County Treasurer’s Office shows.
According to the report, property taxes in Cook County have surged 182% over the past three decades, climbing from $6.8 billion in 1995 to $19.2 billion in 2024. Over the same period, inflation rose less than 91%, and average wages climbed about 161%.
Where property taxes are allocated
School districts alone accounted for the largest share of that increase. With taxes topping $10.5 billion in 2024, the county’s 153 school districts raised levies nearly 189% over three decades to pay for teachers, transportation, building maintenance and other operating costs.
Pat Hynes, the Democratic nominee for Cook County assessor, told Chicago Agent, “The fact that wage growth hasn’t kept pace with property tax growth in Cook County has been clear to taxpayers and practitioners for a long time. Our collective effort moving forward should focus toward solving the problem, not just defining the problem. The historical overreliance on the property tax to fund education in this state is well known. The renewed property tax studies overlook the State of Illinois’ annual increase in funding for K-12 education the past few years. We are quietly moving in the right direction toward compliance with Article X of our state constitution”
Cities and villages, which together account for about 18% of county property tax revenue, have also increased the amount of money they collect from taxpayers. The report shows municipalities raised their levies 201% from 1995 to 2024 to pay for services like police protection, garbage pickup and road maintenance.
Tax Increment Financing (TIF) districts have grown exponentially as well. Taxes collected through TIF districts increased to more than $1.8 billion in 2024 from $160 million in 1995, an increase of 1,034%. Cook County has 418 TIF districts in total, compared with just 154 three decades ago. These districts now account for more than 9.5% of all property taxes billed in the county, up from about 2.4% in 1995.
Hynes added, “We are also approaching the 23rd anniversary for many of the 418 TIF districts in our county, creating an opportunity to dissolve some districts. These two new developments in our property tax landscape provide a tremendous opportunity to change our trajectory around wages and property tax growth. I am hopeful that better days are ahead if we can roll up our sleeves and work together.”
Other government agencies, such as sanitary, park, library, fire protection districts, community colleges and the Metropolitan Water Reclamation District, accounted for 11.6% of all taxes billed and increased their taxes by more than 110%.
Rising pension costs also contributed to higher property taxes.
Between 1995 and 2024, property taxes imposed by Chicago Public Schools, the City of Chicago and other local governments within the city rose by 211%, compared to a 160% increase across the suburbs.
Another factor in tax growth has been changes to how Illinois shares revenue with local governments. As the state cut the percentage of income tax revenue it passed on to cities, towns and villages, many municipalities turned to property taxes to make up for the loss. Between 1995 and 2024, municipal property taxes across the county grew to $3.5 billion from $1.2 billion, a 201% increase.
Not all taxing authorities followed the same pattern. Cook County government itself has kept its property tax levy comparatively low, increasing just 26% over the 30‑year period studied. When adjusted for inflation, that represents a nearly 34% decrease in tax burden for existing property owners. Cook County instead raised its sales tax to cover rising costs.
Township governments, which provide services such as road and bridge maintenance in unincorporated areas and assistance to low‑income residents, raised their property taxes 184% over the same timeframe.