Chicagoans erupt in ‘bill-burning’ protest after taxes soar 98%. How to invest in real estate without getting scorched

Core Viewpoint - Homeowners in Chicago's South and West Side are facing an average property tax increase of 98%, with some neighborhoods experiencing spikes of up to 130% due to a new bill [1][2]. Group 1: Tax Increases - Richard Townsell from North Lawndale reported a 75.86% increase in his property taxes, while a friend faced a staggering 237% increase [2]. - The property tax bills must be paid by December 15 in Cook County [2]. Group 2: Community Response - Townsell organized a symbolic "bill burning" ceremony to protest the tax increases, drawing inspiration from the Boston Tea Party [3][4]. - The event aimed to highlight the burden on homeowners in neighborhoods outside the downtown area, who are subsidizing the costs of empty commercial buildings [5]. Group 3: Underlying Issues - The tax hike is attributed to a significant number of vacant commercial properties in downtown Chicago, as stated by County Treasurer Maria Pappas [5]. - Townsell and the community are considering advocating for a 2% cap on property tax increases, similar to California's Proposition 13 [6].