Tsatsoulis seeks Cook County Assessor on tax cap platform

Nico Tsatsoulis, a Libertarian, is running for Cook County Assessor in the Nov. 3 general election. He faces Democrat Pat Hynes.

Tsatsoulis said in our candidate questionnaire that he views the race as "a direct referendum on property taxes," and is campaigning on a proposal to cap property taxes at 1% of a property's purchase value.

Candidate information

Party: Libertarian

Education: Asked about his education, Tsatsoulis said in our questionnaire: "AB '88, MBA '89 University of Chicago. My education has contributed to my questioning the status quo and looking for better ways to do things. It has also inspired me to fight power when it is takes unjust stands and works against the interests of the people."

Occupation and work history: "Real estate manager. I have worked in consulting, finance, retail, wholesale and real estate on three continents," Tsatsoulis said in our questionnaire.

Family: Asked about his family, Tsatsoulis said: "My family is watching with awe the unfathomable degree of corruption in local politics."

Experience and public service

Tsatsoulis ran as the Libertarian candidate for Cook County Assessor in 2022 and for Cook County Board of Review District 3 in 2024, according to his Libertarian Party profile. He has held no prior elected or appointed office, he said in our questionnaire.

Asked about his accomplishments, Tsatsoulis said in our questionnaire: "I immigrated to the United States alone at age 19 to pursue my education, going on to become the youngest MBA student in my class at the University of Chicago. Since 2021, I have led the charge to cap property taxes, bringing the precise technical knowledge and innovative ideas required to overhaul this office."

He added that it was his third time running for office "completely independent of the political establishment" and that he had "earned hundreds of thousands of votes as the ultimate underdog."

On the issues

Why he is running: Tsatsoulis said in our questionnaire that the current assessment system is broken. "Assessments are inherently subjective. There is no scientific way to derive objective assessments," he said. "Because assessments are subjective, they are often appealed. The appeals rate is 25%. In LA county where they use the objective system I am advocating for, the appeals rate is 1%."

He said the system creates a "zero-sum game." Tsatsoulis said in our questionnaire that "the corporations and the rich who can afford the property tax lawyers, get their taxes reduced and the working poor and middle class have to pick up the burden."

Tsatsoulis pointed to California as a model, saying in our questionnaire: "I am advocating capping property taxes to 1% of purchase value. This has been the law in California since 1978. Democrats, Republicans and Independents love it. It is time to bring that same predictability to Illinois."

Property tax cap proposal: Tsatsoulis said on his campaign website that he wants to "limit property taxes to 1% of assessed value with annual inflation increases capped at 2%." He also called for using sale values rather than office-generated estimates for calculating assessments, which he said would "lower the costs of the CCAO by saving taxpayers' money and at the same time increase fairness …"

He proposed changing the Cook County code to "eliminate harmful ordinance that taxes commercial properties more than residential properties in order to lower additional costs to small business owners and low-income consumers," Tsatsoulis said on his campaign issues page.

Differences from his opponent: Asked what sets him apart, Tsatsoulis said in our questionnaire: "I am the only candidate fighting to cap property taxes and eliminate the corrupting influence of money in this office … Unlike my opponent, I accept zero campaign donations and run a grassroots campaign on a $1,000 budget."

He alleged that his opponent "has accepted thousands of dollars from developers and, even worse, from the very property tax lawyers who appeal clients' taxes directly before this office." No response from Hynes appears in the research record as of publication.