So says a new report issued today by the Civic Federation, a Chicago tax watchdog and research group, on the "effective tax rate" paid by owners — the percentage of a property's true market value that has to be paid in property taxes.
The study, as in previous reviews, found dramatic differences in who pays what within the metropolitan area, based on how much each town and school district needs in taxes and how big their property bases are on which those taxes can be levied. Seen over a 10-year period, the differences truly are striking. Read Greg Hinz's take in Crain's.