The Doom Loop in Chicago

[David Kieta]

"A “doom loop” therefore looms for Chicago and many other cities: Commercial leases don’t get renewed, leading to slashed commercial property tax valuations, forcing a higher tax burden on homes, reducing the value of nearby commercial property and so on."

The above is the most important part of this article. Every taxpayer I speak to cannot understand why they are paying more in property taxes. The "Doom Loop" explains why residents in the City of Chicago will have higher assessments in 2024. However, increases in the suburbs and outer counties are due to local government overspending.

https://wirepoints.org/new-report-chicago-by-far-the-worst-a...