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Study: Effective property tax rates going up

Updated: March 1, 2013 7:12PM



A new report that tries to make an apples-to-apples comparison of property tax burdens across the Chicago region found effective tax rates on the rise in 2010 — based on the latest data available.

Laurence Msall, president of the Civic Federation, said the growth is an ongoing trend.

Msall’s nonpartisan government research group looked at the “effective property tax rate” — the percentage of full market value properties owed in taxes for a given year. If the market value of a property fell but the tax rates paid were flat or increased, therefore, the property would have paid a higher effective tax rate.

The study being released Monday found effective tax rates in 2010 for residential and commercial properties increased for each of the 32 municipalities studied. Also, it found that rate in 2010 was higher than it was 10 years ago for all communities studied.

The only exception was industrial properties in Chicago, which were down 15.1 percent since 2001. Between 2009 and 2010 commercial effective tax rates in 12 Cook County communities studied went up between 62.6 and 86.6 percent.

Chicago had the lowest effective tax rates for residential, commercial and industrial properties of any of the selected Cook County municipalities in 2010. Msall said that’s because it has a richer commercial and industrial base.



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