How the South Suburban tax base could see an increase

A home the South Suburban Land Bank is renovating.

Joseph van Dyk’s Crain’s Chicago, Business Op-Ed

Chicago’s south suburbs were once built around manufacturing, postwar growth and strong middle-class communities, but decades of economic decline have left many towns struggling with shrinking populations, fewer employers and a weakened tax base. Now, residents in communities like Harvey, Homewood and Phoenix are facing dramatic property tax increases following Cook County’s latest reassessment, deepening financial pressure in areas already dealing with long-term economic challenges. The article explores how these historic suburbs reached this point and what rising taxes could mean for their future.