Median commercial property tax bill by community area, 2023-2024

A 7.2% drop in commercial values --- for things like stores, offices, and restaurants --- in the Loop led to tumbling tax bills for those businesses downtown. The amount of taxes billed to Loop commercial property owners dropped from more than $1.1 billion to $992.4 million, according to a new analysis by the county treasurer. That spread the bill burden out to homeowners as well as businesses across the city.