Property Tax Proposals Meet with Chilly Reception
A mayoral candidate’s idea for a tiered system of property tax rates that would tax higher-priced homes at higher rates was short-lived.
Another idea to establish a statewide property tax to help pay off pension obligations was decisively rejected by suburban voters in November before it was ever even formally proposed. The referendum was seen as a way to discourage any attempts to introduce such a proposal – based on an idea from three Federal Reserve of Chicago economists reported earlier this year.
The chilly reception in both cases illustrates the hurdles around proposals that have the potential to raise property tax rates, especially in an election year, and especially in areas like Chicago, where property owners are still absorbing the sting of four years of phased-in property tax hikes.
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Applications for two property tax exemptions for Cook County senior citizens have been mailed out to property owners who received the exemptions last year. The deadline for re-applying for the exemption is Feb. 6, 2019. The application is required every year, regardless of past eligibility.
Cook County Tax Assessor Fritz Kaegi backed off a plan to provide immediate relief to more than 1,100 homeowners living within a floodplain in the New Trier township after a rocky roll-out left him having to defend a decision that would have reduced the assessed value of some pricey homes by as much as 30%.
Cook County Assessor Fritz Kaegi has not given up on efforts to pass legislation requiring some commercial property owners to submit information about building income to the assessor’s office, which he has called “the first, best step in legislative tax reform.”
2019 Triennial reassessment notices were mailed to Hanover Township homeowners on Tuesday, September 24th. The following cities, towns, and villages are in Hanover Township: Bartlett, Elgin, Hanover Park, Hoffman Estates, Schaumburg (west edge), South Barrington (south edge), and Streamwood. Homeowners in Hanover Township have 30 days to appeal their assessment at the Assessor’s office (there will be a second opportunity to appeal later in the year at the Board of Review, whether you appeal at the Assessor’s office or not). The deadline for appealing at the Assessor’s office is October 24th.
2019 property assessment notices were mailed by the Cook County Assessor’s office on Thursday, September 19th, to South Chicago Township property owners. The following cities, towns, and villages are in South Chicago Township: Bridgeport, Brighton Park, Bronzeville, Lake Meadows, Loop, McKinley Park, Prairie Shores, and South Loop. The one month window to appeal your 2019 assessed value is now open until the deadline of October 21st.
2019 property assessment notices were mailed by the Cook County Assessor’s office on September 11th to Rich Township property owners. The following cities, towns, and villages are in Rich Township: Country Club Hills, Flossmoor (west 3/4), Frankfort, Hazel Crest, Homewood, Matteson (majority), Olympia Fields (vast majority), Park Forest (north 3/4), Richton Park, Tinley Park (portion), and University Park (portion). The one month window to appeal your 2019 assessed value is now open until the deadline of October 11th.
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