Suffredin- Changing County Government  
 

Accountability
Forest Preserves
Public Safety
Cook County Budget
Forest Pres. Budget
Property Tax Appeal
Health & Hospitals
Land Bank Authority
Policy Resolutions
Unsung Heroine

 

   
 
   
   
 
   
     
  Office phone numbers:  
   
 
 

The Cook County Code of Ordinances are the current laws of Cook County.

   
 

Search current and proposed Cook County Legislation in Larry's exclusive legislative library.

   
  Cook County is the second most populous county in the nation. It is the 19th largest government in the U.S.
   
     
     
     



Tax spike in store if cap expires
Watchdog group suggests extending Cook County break

Monday, November 27, 2006
Chicago Tribune
by Mickey Ciokajlo

Chicago homeowners would see their property-tax bills increase significantly next year if the so-called 7 percent tax cap is not renewed, according to a study to be released Monday by the Civic Federation.

Homeowners in the city can already expect their bills to go up by more than 10 percent in 2007 after this year's reassessment. But if the law is allowed to expire, as it is scheduled to do, those same tax bills would climb by more than 36 percent, the study found.
The Civic Federation, a non-partisan budget watchdog, supports renewing the 7 percent law for another three years to protect homeowners at tax collection time from the rapid escalation of residential real estate values of recent years.

The organization, however, does not endorse a version of the law that would sweeten benefits to homeowners.

The current law isn't really a tax cap but works by expanding a homeowner's exemption to a maximum of $20,000. A bill that would increase that limit to $60,000 is pending in Springfield.

It is not known whether it or an amended draft will get called for a vote during this week's veto session. Legislation could get passed in the spring and still be effective for next year's tax bills.

The General Assembly passed the 7 percent cap in 2004 with a provision that it would expire after a three-year cycle.

Real estate in Cook County is reassessed every three years. The impact is reflected on the next year's tax bill.

Cook County Assessor James Houlihan proposed the law after Chicago's 2003 reassessment and is pushing, with Chicago Mayor Richard Daley, for its renewal.

Business groups oppose the law because it shifts tax burden away from homeowners and on to all other non-homestead-exemption eligible properties, notably commercial, industrial and apartment buildings.

The law also causes some seniors enrolled in special programs and owners of houses that are not increasing in value to pay slightly more in taxes than they would have without the cap in place.

The Civic Federation report confirmed that owners of non-homestead eligible properties next year would pay higher taxes with the cap in place than without it.

But the study found that commercial, industrial and apartment properties in Chicago are already expected to see their taxes go down in 2007, with or without the cap in place. Taxes on those properties would drop even further if the law were allowed to expire and more of the burden were shifted back to homeowners.

"Although it is not a replacement for comprehensive reform of the property tax system, the `7% cap' has contributed residential stability to the Cook County property tax system by both limiting and smoothing annual increases in the taxable value of homestead properties," the report says. "The Civic Federation believes that the benefits of the [law] outweigh its costs in terms of tax burden shifted to non-homestead properties and homestead properties that are appreciating slowly."

With the housing market cooling, the cap may no longer be necessary in another three years, the report found. The report will be available Monday morning on the Civic Federation's Web site at www.civicfed.org.



Recent Headlines

IMPORTANT MESSAGE FROM COMMISSIONER SUFFREDIN
Thursday, May 16, 2019
Special to suffredin.org

Cook County Assessorís Office Publicly Releases Residential Assessment Code and Models
Thursday, April 18, 2019
Special to suffredin.org

EDITORIAL: Long in the MWRD pipeline, IG plan needs a yes vote
Wednesday, April 17, 2019
Chicago Sun-Times

Cook County Health Cuts Ribbon on Outpatient Center in Arlington Heights
Tuesday, April 16, 2019
Daily Herald

Celebrate Earth Day with the Forest Preserves of Cook County
Tuesday, April 16, 2019
Special to suffredin.org

Homeowners in Chicago have just a few weeks to get current on their 2017 property taxes - or risk losing their homes. WBEZís Odette Yousef reports.
Tuesday, April 16, 2019
WBEZ Chiacgo Public Radio

Editorial: The Foxx-Smollett questions for Inspector General Blanchard
Tuesday, April 16, 2019
Chicago Tribune

Cook County pet owners warned of spring coyote dangers
Monday, April 15, 2019
Chicago Sun-Times

Cook County inspector general to review prosecutors' handling of Jussie Smollett case
Saturday, April 13, 2019
Chicago Tribune

Foxx requests Cook County IG investigation into handling of Jussie Smollett case
Friday, April 12, 2019
Chicago Sun-Times

A challenge to one of Chicago's biggest draws for companies
Friday, April 12, 2019
Crain's Chicago Business

What Evanston's assessments tell us about the new assessor's new math
Friday, April 12, 2019
Crain's Chicago Business

$3.85 million granted in lawsuit against ex-Cook County forest preserve worker charged in fatal on-the-job crash
Thursday, April 11, 2019
Chicago Tribune

A Day in the Life of a Cook County Burn Crew
Wednesday, April 10, 2019
WTTW News

EDITORIAL: Splitting up the regionís sanitation board is an idea that stinks
Monday, April 08, 2019
Chicago Sun-Times

Lawmakers Look To Keep 10-Year-Olds Out Of Jail
Thursday, April 04, 2019

Property Tax Workshops Help Homeowners Appeal Assessments
Wednesday, April 03, 2019
Evanston RoundTable

Large crowds of Evanston residents turn out to appeal property tax assessments
Tuesday, April 02, 2019
Chicago Tribune

Family of slain cabbie accuses Cook County state's attorney's office of dodging FOIA request
Monday, April 01, 2019
Chicago Tribune

Property Tax Appeal Seminar Set For New Trier Township Residents
Monday, April 01, 2019
Journal and Topics Online

all news items

Paid for by Larry Suffredin and not at taxpayer expense. A Haymarket Production.
^ TOP