Tax hikes loom for South, West side homeowners

This story is a collaboration between the Illinois Answers Project and the Chicago Tribune .

Leodus Thomas Jr. sees a brighter future for Chicago’s West Side. It’s why, after buying his house in Austin nine years ago, he decided to become a developer.

But in the last several years, a new threat has emerged.

“We find (distressed properties) and get them back on the tax roll — but lately we’ve been punished for that — big-time,” Thomas said. Rising investment in the area has triggered rising property assessments, which in turn will likely result in higher property tax bills.

Thomas bought his red brick, two-story home in 2016 for $135,000. Two years ago, the Cook County assessor’s office pegged its value for tax purposes at about $163,000.

Last year, he got a new valuation: $260,00