Why Are My Property Taxes So High? Assessor Seminar Provides Answers

Northwest Township assessors from Palatine, Elk Grove, Wheeling and Barrington are holding a seminar on May 20th starting at 6:30 PM on why are property taxes are so high and what residents can do to curtail rising taxes at the Palatine Township Center 721 South Quentin Road in Palatine.

Property taxes in Cook County increased at double the rate of inflation and well above the rate of wage growth during the past 30 years, a study by Cook County Treasurer Maria Pappas found. Local governments in Cook County imposed $19.2 billion in property taxes in 2024, up nearly 182% from the $6.8 billion taxed in 1995, according to the report. During those three decades, inflation rose by 91%, while average wages grew by about 161%. That means property owners now must devote a larger portion of their wages to property taxes and if the trend continues, a larger amount in the future.

Property Taxes have far outpaced resident income. At the seminar residents will learn what they can do to stop the rising taxes. This session will begin with a basic overview of how local government is structured and how property taxes are calculated. It will break down why tax bills continue to rise, and cover important tools available to homeowners, such as appeals, exemptions, and other ways to potentially reduce resident burden.