Cook County property tax is a tax levied on real estate in Cook County, Illinois. The tax is used to fund local services such as schools, libraries, and parks. The amount of property tax owed is determined by the assessed value of the property, which is set by the Cook County Assessor’s Office.
Property taxes are an important source of revenue for local governments. In Cook County, property taxes account for approximately 70% of the county’s budget. The tax is also a major source of funding for schools. In Chicago, property taxes provide over 50% of the Chicago Public Schools budget.