If you think a mortgage is the only debt your property carries, think again. Your house or commercial building is also on the hook for local government borrowing and pension obligations in years to come, a reality illuminated by a new report provided exclusively to Crain's by Cook County Treasurer Maria Pappas.

The report provides the first-ever breakdown of government debt in Cook County by individual property. In other words, it allocates the total debt owed by municipalities to individual properties based on their share of the overall property tax burden.

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