2014 Tax Rate Report PowerPoint

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Cook County, Illinois property tax report

Transcript of 2014 Tax Rate Report PowerPoint

  • 2014 Property Tax Rates

    in Cook County, Illinois

    Clerk David OrrCook County, Illinois June 18, 2015

  • 2014 Property Tax Rates

    How tax rates are calculated

    2014 property tax rates

    Factors affecting 2014 tax rates

    Impact on taxing districts

    Impact on homeowners

  • Calculating Tax Rates

    Taxing districts submit levy requests

    to Clerk

    Over 1,400 taxing districts

    Clerk reduces levies in compliance

    with statute

    Rate ceiling of individual funds

    Total levy increase limited by CPI

    (inflation)

    Final Reduced Levy Total Value = Tax Rate

  • 2014 Average Changes of

    Property Tax Rates

    City of

    Chicago

    -0.3%

    Northern

    Suburbs

    +1.0%

    Southern

    Suburbs

    +5.0%