Property taxes billed by Cook County's local governments has been nearly triple the rate of inflation during the past 20 years, according to a new study, the Illinois Policy Institute reports.

And next year Chicago residents are facing a $93.9 million property tax hike, as well as a pitch for automatic future property tax hikes tied inflation, as part of Mayor Lori Lightfoot's proposed 2021 budget.

While the regional cost of living has risen by 36%, property taxes across Cook County have increased by 99% between 2000 and 2019 - according to a new study from Cook County Treasurer Maria Pappas. Meanwhile, wages in Cook County have risen by 57% during the same period.

Read the report.