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flag Commercial tax appeals shift $2 billion burden onto homeowners, hitting low-income areas hardest.

flag A recent report by Cook County Treasurer Maria Pappas highlights how commercial property tax appeals have shifted a $2 billion tax burden onto homeowners. flag During the 2021 to 2023 reassessment cycle, commercial property taxes dropped nearly 20%, while residential taxes rose over 16%. flag The report also notes that homeowners in low-income areas, primarily minority populations, saw their bills increase by about 10%, compared to a 5% rise in high-income areas. flag Pappas suggests government spending cuts or a "circuit breaker" law to offer property tax relief.

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