A small 10 unit apartment building property taxes increased 440% from $23,000 to $128,000 a year. The landlord now faces bankruptcy and theoretically would have to charge tenants $5,000 a month.
https://abc7chicago.com/chicago-property-taxes-tax-bill-cook-county-lincoln-park/12575946/
It's basically a family business renting out one bedroom apartments that include a lot of college students. Some neighborhoods are facing 20-46% property tax increases on average.
https://abc7chicago.com/chicago-property-taxes-tax-bill-cook-county-lincoln-park/12575946/
It's basically a family business renting out one bedroom apartments that include a lot of college students. Some neighborhoods are facing 20-46% property tax increases on average.