Property taxes remain a sore subject in the city of Chicago, repeatedly proving to be one of the biggest threats to market growth and long-term investor interest in the city, per a new national tax analysis and a survey of commercial real estate professionals. The city's effective property tax rate, or taxes owed relative to values, sits at an average of 2.1% in Cook County and at 2.16% for the state — almost double the national average and the second-highest effective rate in the nation, according to Smart Asset’s property tax calculator. 
Meanwhile, in a year-over-year comparison via the DePaul University-Urban Land Institute’s 2022 Chicago Mid-Year Sentiment Report, Chicago real estate professionals’ concerns about the effectiveness of the city’s leadership and the continued uncertainty over the property tax situation remained high.CRE professionals ranked their concern about city leadership and taxation at…  Read the full story here. | 
