Homeowners – How will Chicago’s property tax hike impact you?

Aldermen narrowly approved a $94 million increase to Chicago’s property tax levy as part of Mayor Lori Lightfoot’s pandemic budget, bringing the total to $1.63 billion. Using 2019 tax bills, the city estimated the hike would cost the average Chicago homeowner – with a home valued at $250,000 – an extra $56 per year. Here’s how other homeowners would fare.

Read more here: Crain’s Chicago Business Magazine.
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