Cook County taxpayers face projected $550.7 million deficit
[June 20, 2026]
By Jim Talamonti | The Center Square
(The Center Square) – Cook County Board President Toni Preckwinkle has
projected a budget gap of $550.7 million dollars for fiscal year 2027 in
a jurisdiction where taxpayers are still waiting for property tax
relief.
Preckwinkle’s announcement came in a statement released on a Wednesday
night, after two years of residents being impacted by dramatic property
tax increases.
The board president said her administration has done things the right
way when it comes to budgeting.
“We use best practices, we spend responsibility, we pay down legacy
obligations, we plan ahead and set aside money for emergencies, but the
county is not immune to extraordinary outside factors like federal
action or court rulings,” Preckwinkle’s statement said.
Preckwinkle said a court-ordered restriction on the use of
transportation tax revenue helped drive a projected $336 million general
funds budget gap.
The county’s health enterprise fund is forecast to have a $214.7 million
deficit due to added spending on charity care services and an expected
decrease in CountyCare membership caused by “sweeping federal cuts and
Medicare eligibility restrictions.”
Illinois lieutenant governor candidate and former Cook County Republican
Party chairman Aaron Del Mar said the budget gap did not happen
overnight.
“It's the result of years of spending decisions that have failed to
account for the long term realities,” Del Mar told The Center Square.
Last November, the Cook County board unanimously approved a $10.12
billion budget for fiscal year 2026.
The county budget in fiscal year 2018 was $5.2 billion.
Del Mar said Preckwinkle and county commissioners need to examine their
departments, contracts and programs to identify waste and inefficiency.
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Multiple U.S. $20 bills featuring President Andrew Jackson. Photo:
Emilee Calametti / The Center Square
“We need to protect the essential services of public safety, public
health, infrastructure, but we need to eliminate spending that
doesn't serve taxpayers,” Del Mar said.
He said raising taxes again would only make the problem worse.
“The people of Cook County are already paying some of the highest
taxes in the country, and many are leaving because they can no
longer afford to stay,” Del Mar said.
State Rep. Anthony DeLuca, D-Chicago Heights, said the Illinois
legislature needs to make more of an effort to provide property tax
reform.
DeLuca said tax relief is needed before additional state spending.
“We should not be throwing new money at a problem that is
structurally broken. So we have to have some of those reforms that
take place, and none of them are easy,” DeLuca said.
On June 11, Preckwinkle announced the appointment of Angela Manning-Hardimon
as Cook County Bureau of Finance’s new chief financial officer.
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