(The Center Square) – The Democratic Party candidate for Cook County assessor says property taxes are high because assessments are not connected to the actions of the market, but his Libertarian opponent disagrees.
Democratic nominee Pat Hynes said in a campaign video that property taxes have increased dramatically for some homeowners because property assessments are not connected to the actions of the market.
Hynes, who defeated Democratic incumbent Fritz Kaegi in the primary last March, said one North Lawndale homeowner’s assessment went from $90,000 in 2021 to $350,000 in 2024 after Kaegi “changed the rubric.”
Libertarian assessor candidate Nico Tsatsoulis said the market values are irrelevant.
“It doesn’t matter how much your property is worth. Property taxes have to do with tax levies, and the tax levies are independent of the underlying value of the properties,” Tsatsoulis told The Center Square.
Tsatsoulis said the election is a referendum to change the system.
“The system’s broken and it basically works against the poor and the middle class and benefits affluent property owners and corporations,” Tsatsoulis said.
Tsatsoulis said the Illinois General Assembly should adopt California’s Proposition 13, which limits most property tax rates at 1% of assessed value and caps most annual assessment increases at 2%.
“Democrats love it. Republicans love it. Independents love it. I’m arguing it’s time to adopt the same system in Illinois,” Tsatsoulis said.
Tsatsoulis said, if elected, he would deflate everyone’s assessments on day one.
“That means that the poor are going to be paying less, and the rich will avoid going to property tax lawyers to get their overinflated taxes reduced,” Tsatsoulis said.
There is no Republican on the ballot for Cook County assessor.
