It's good news if you're selling, but bad news if you're trying to rent – and really bad news if you're just getting by in a gentrifying neighborhood.
-- By the weekend, most Cook County property owners will be getting their tax bills – and for some, the jump in what is owed may force them out of the neighborhoods they have called for decades.
More expensive homes enter, and they raise the value of the entire neighborhood — and the taxes everyone pays. It means higher costs for owners and renters.Moreno said homeowners will feel the effects of the spike first, and renters will feel it on their next lease. We examined one relatively new build in Avondale. Its property tax bill is going up 103 percent —$6,600 more than last year.
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