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Path To Destruction: Cook County's Property Tax System Is A Cause For Concern As It Mimics The Defunct Taxing Procedures That Led To The Detroit Foreclosure Crisis, Robert Romano
Chicago-Kent Law Review
For decades, Cook County, Illinois, has had one of the highest property tax rates in the country, and as a result the County has begun to experience unprecedented foreclosure rates which has contributed, in part, to the State’s significant population decline. Residents are forced to endure a property tax system that disproportionately burdens low-income homeowners, while providing tax breaks to higher-income individuals and commercial owners. The primary causes and characteristics of Cook County’s defunct property tax system are strikingly similar to those that sent the City of Detroit spiraling into bankruptcy in 2013.
This note provides a comparative analysis of …