Latest news with #CookCountyTreasurer'sOffice
CBS News
05-05-2025
- Business
- CBS News
Nearly $2 billion in Cook County property taxes shifted from businesses to low-income homeowners, study finds
A study from the Cook County Treasurer's Office found nearly $2 billion in property taxes shifted from county businesses to the lowest income homeowners over just three years. The study found property tax assessment appeals submitted by businesses in Cook County caused their collective tax bill to drop by $3.3 billion, while residential tax bills went up $1.9 billion. The study also found the additional tax burden on homeowners fell mainly on low-income Black and Latin homeowners who make less than $50,000 a year, who contested their assessed values at a much lower rate than wealthier white homeowners. Cook County Treasurer Maria Pappas said she has found that most homeowners are overwhelmed by the daily tasks in their lives and so taking actions like appealing your property assessment or taxes are simply not on their radar. Pappas' office said the study suggests current efforts by the Assessor's Office and the Board of Review to standardize their methodology and share date could lead to fewer and smaller small business assessment reductions which could, in turn, reduce the shifts in the tax burden onto low-income homeowners. Her office also suggests outreach to low-income homeowners so they have the knowledge and tools to appeal their assessments.
Yahoo
26-03-2025
- Politics
- Yahoo
White, wealthy Cook County residents more likely to vote on tax proposals: analysis
The Brief Cook County voters in wealthy and majority-white areas are more likely to turn out and vote on ballot referenda asking for tax increases, according to a new analysis. The Cook County Treasurer's Office examined data from the 2024 primary and general elections for the analysis. The findings show just how few voters can decide on tax increases across the county, the treasurer's office said. COOK CO., Ill. - Cook County residents who are white, wealthy and who own their homes are more likely to vote and determine the outcome of ballot questions that raise taxes, according to a new analysis. The Cook County Treasurer's Office released the findings of its analysis this month to show just how few voters decide whether to raise new taxes on residents and increase government debt. Cook County Treasurer Maria Pappas used the findings to urge residents to turn out and vote during the upcoming local election next Tuesday, April 1. By the numbers Pappas' office analyzed 35 referenda on the ballot last year. It found that wealthier residents were more likely to vote in those elections. In Cook County's wealthiest taxing districts, the average turnout was 60%, compared to only 34% in districts where the median household income fell below the county median of $81,797. The analysis found that white residents were also more likely to vote. On average, turnout in majority-white districts was more than 20 percentage points higher than in majority Black, Latino, and majority-minority districts. People who own their homes were also more likely to vote. In taxing districts where 80% or more of residents own their home, the average turnout was more than 55%. In districts where more than 20% of residents rent, the average turnout was just 30%. "Rising property taxes always anger property owners. Despite that, most don't vote in referendums that determine whether their taxes go up or down," Pappas said in a statement. Another way in which overall voter participation decreases is what the analysis called "drop-off" voters, or when a voter doesn't fill out the referendum questions that tend to be listed further down the ballot. In Cook County, the median drop-off rate for the primary and general elections was about 6.2%, according to the treasurer's office. Why you should care The release of the findings comes just days before another local election is set to take place next Tuesday, April 1. Tuesday's election will feature multiple taxing ballot questions as well. Local consolidated elections during off years tend to have lower turnout rates, Pappas' office pointed out. "If the Treasurer's findings are any guide, little will have changed and only a few will still decide for the many," the analysis said. Early voting is already open for Tuesday's election. Visit the Cook County Clerk's Office for more information. Dig deeper In a summary of the results, the treasurer's office highlighted two examples to illustrate its findings, one referendum in a low-income south suburb and another in a high-income suburb in the North Shore. The Robbins Park District asked voters last March to approve a tax increase. The district is in an area where the median household income is about $38,000 and less than 73% of residents own their home. While the tax increase was rejected, only 14% of registered voters weighed in, one of the lowest turnouts in the primary election, according to the analysis. By comparison, in Kenilworth, a majority white North Shore suburb where the median household income is above $250,000 and more than 97% of residents own their homes, voters were asked to approve a $2.5 million bond issuance. The turnout rate was 33% for the March primary, more than twice the turnout rate in Robbins. You can read the full analysis on the Cook County Treasurer's Office website.
Axios
26-03-2025
- Politics
- Axios
How wealth and race shape who decides property tax referendums
A new study released Wednesday by the Cook County Treasurer's Office found that wealthier, white voters are deciding the outcome of property tax referendums. The big picture: " Voter Turnout, Race, Income and the Fate of Property Tax Referendums" was the first study by Treasurer Maria Pappas' office that compared income, race and homeownership status in relation to referendum voter turnout. Average turnout last year for tax-related referendums was about 46%. But for voters with median household income less than the county median of $81,800, turnout was only 34%. Turnout jumped to nearly 63% for voters with median household incomes over $150,000. Between the lines: Referendum voting is lower than overall turnout as voters often skip the measures because of lack of information or not being impacted by the outcome. State of play: Last year, Cook County voters were asked to weigh in on 35 property tax-related referendums, 30 of which were tax increases. Voters approved 26 measures. Several asked voters to borrow above state limits to improve parks, schools and a new library, and nearly all of those measures passed. Smaller municipalities are limited by state law in how much they can increase property taxes, but voters in south suburban Robbins and Palos and west suburban Riverside passed measures that would allow a hike. Voters in suburban Thornton Township voted against raising property taxes to fund mental health care, but Chicago voters approved two new mental health care programs through a 0.025% increase. Zoom in: One of the most well-known referendums on the primary ballot was Mayor Brandon Johnson's "Bring Chicago Home" initiative, which would have raised transfer taxes on properties that sold for over $1 million to help address homelessness. It failed. Wealthier property owners would have been most adversely affected by the measure, and more higher-income voters weighed in during the primary than lower-income voters. Another case in point: In south suburban Robbins, fewer than 73% of residents are homeowners and the median household income is less than $38,000, compared to over 97% home ownership in North Shore Kenilworth, which has a median household income over $250,000. Robbins had one of the lowest turnouts in last year's primary (14%) while Kenilworth had one of the highest (33.5%). By the numbers: Average voter turnout in majority white taxing districts was 55% in last year's elections, compared to 33% in Black-majority and 29% in Hispanic or Latino. Average referendum turnout was about 46%, up from 34% over the previous four years. This jump was despite Cook County last year having its lowest turnout for a presidential election in more than 30 years. What's next: There's a consolidated election on April 1 with eight property-related referendums on the ballot, including an increase in taxes for mental health services in Palatine and taking on hundreds of millions of dollars in debt in several western suburbs.
