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Cook County Clerk David Orr: Barrington has Some of the Lowest Property Tax Rates in Cook County

Post Date:07/26/2018 12:29 PM

Cook County Clerk David Orr: Barrington has Some of the Lowest Property Tax Rates in Cook County

Cook County Clerk David Orr recently released the 2017 Property Tax report, which included data on tax rates that showed most Barrington property owners pay less than many of their Cook County suburban counterparts for a property of equal value.

A Barrington resident with a $600,000 home pays an estimated $12,906 in property taxes, based on the average composite 2017 tax rate of 7.260%. Other comparable suburban communities pay an average of $16,514 for a home of equal value due to much higher average com­posite tax rates (see chart below). As you can see in the chart below, the average composite tax rate in Barrington decreased by 0.6% for the taxes to be paid in 2018, this in contrast to average increase of 1.2% in the other communities.

In addition, as discussed last year by the Village’s Director of Fi­nancial Services Jason Hayden, for property taxes that will be paid in 2018, the Village’s portion of those taxes has decreased by 10%, with the Village portion of the total tax rate declining from 0.633% in 2016 to 0.570% in 2017 as the bonds that were approved by voters in 1999 and used to fund the Village Hall and Public Safety buildings are retired in 2018 and 2019.

As a result, Hayden said, “Residents realized a 10% decrease in the Village’s portion of their property taxes in 2018 and will realize an additional 10% reduction in 2019, for a 20% total reduction over those two years.”

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