Suburban Cook County Businesses Brace For Sales Tax Increase
(CBS) -- Buy anything in Cook County beginning next year and you'll pay more.
In a nine to seven vote Cook County commissioners approved a one-percent increase in the sales tax that takes effect January 1.
CBS 2's Dana Kozlov has more on what the penny-on-a-dollar tax hike means to your wallet.
Cook versus Lake: the county signs and a road offer a clear dividing line, one that, in about five months, more shoppers may cross than ever before.
Like Katie Carlson who just stocked her car full of stuff from a Palatine Target. But with Cook County's sales tax set to rise to ten percent in most places, nearby Lake County's seven percent looks appealing.
"I would go in Lake County just to save the money," said Carlson, a mother of three.
How big is the difference? Take a $1,200 set of tires. After January 1, tax on them in Cook County would be $120 versus $84 in Lake County, a $36 difference.
Cook County taxes on a $499 grill will be $49.90, compared to $34.93 in Lake County.
It is something some Cook County business owners worry about, like those at Palatine's Exquisite Jewelry, especially when it comes to expensive, engagement ring type purchases.
"Another one percent…hopefully that doesn't hurt business," Michael Pham.
