It is no secret that since 2007 real estate property values throughout the Chicagoland area have decreased drastically. Market values have plummeted for commercial, industrial and residential properties alike. Nonetheless, property taxes have remained high.

For many of you in Cook County, the receipt of the 2nd installment 2009 bills after the election came as an unpleasant surprise. The total 2009 taxes due were often higher than the year before despite property values being down.