Will County Gazette

Will County Gazette

Wednesday, January 22, 2020

Analysis: Property taxes rise in Chicago, but still lower than in Plainfield, Bolingbrook

Politics

By LGIS Newsfeed | Sep 6, 2018

Plainfield
1211 Betty Drive is for sale for $247,500. It has a tax bill of $6,736. | zillow.com

The average City of Chicago homeowner saw a $110 per year increase in their property tax bill last year, according to a report by Cook County Clerk David Orr.

But Chicago property tax bills are still a fraction of what they are in suburban Plainfield and Bolingbrook. 

A comparison of effective property tax rates for the first six months of 2018 found that homeowners in Plainfield and Bolingbrook are still paying more than one-third more than they would be if their home were within Chicago's city limits.


State Rep. Natalie Manley (D-Bolingbrook)

On a home valued at $250,000, a residential property tax bill would be $6,334 in Plainfield and $6,644 in Bolingbrook, versus $3,875 in Chicago.

Chicago's effective property tax rate is lower than all 23 northwest suburban communities studied, less than half what it is in Barrington Hills and Bartlett.

$17 billion suburban bailout

The analysis comes amidst angst over Illinois property tax bills, which have risen to more than twice the national average over the past two decades, eroding the home equity of longtime suburban Will County homeowners.

To blame: soaring local government spending, richer pensions, and higher City of Chicago spending, which has been subsidized by suburban taxpayers by way of Springfield.

Last summer, suburban legislators including State Rep. Natalie Manley (D-Bolingbrook) and State Rep. Stephanie Kifowit (D-Lockport) helped pass a bailout of Chicago Public Schools (CPS), which were insolvent after blowing their budgets 15 years straight, according to a Chicago City Wire analysis.

The bailout requires suburban and downstate taxpayers to raise property taxes and pay higher income taxes to pay CPS' more than $17 billion debt.

It also diverts money to CPS from northwest suburban school districts, all of which stand to lose according to an analysis of the bill published by the Illinois State Board of Education.

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How do Will property taxes compare to Chicago?

The following table compares Will County communities based on how much property owners would pay on a $250,000 home. Effective tax rates were calculated using 2018 median sale prices and 2017 median tax bills.

 

City

Effective Tax Rate

Tax bill on $250,000 home

Tinley Park

4.63%

$11,565

Crete

3.26%

$8,153

Monee

3.18%

$7,961

Willowbrook

3.03%

$7,580

New Lenox

2.93%

$7,320

Aurora

2.85%

$7,119

Steger

2.78%

$6,956

Lockport

2.74%

$6,839

Bolingbrook

2.66%

$6,644

Romeoville

2.58%

$6,444

Peotone

2.55%

$6,387

Plainfield

2.53%

$6,334

Manhattan

2.52%

$6,309

Mokena

2.50%

$6,238

Naperville

2.42%

$6,059

Frankfort Square

2.41%

$6,037

Shorewood

2.41%

$6,033

Minooka

2.35%

$5,881

Wellington Heights

2.32%

$5,801

Homer Glen

2.32%

$5,798

Beecher

2.30%

$5,761

Frankfort

2.29%

$5,718

Channahon

2.21%

$5,513

Joliet

2.15%

$5,365

Crest Hill

2.08%

$5,210

Wilmington

2.03%

$5,072

Crystal Lawns

1.95%

$4,877

Elwood

1.93%

$4,813

Braidwood

1.66%

$4,144

Chicago

1.55%

$3,875

Preston Heights

1.27%

$3,179

Source: Blockshopper.com; Will County Assessment Office

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