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Homeowners Brace For Property Tax Bills
Tax Bills Due Dec. 3

Monday, October 22, 2007
NBC5 News

CHICAGO -- Property owners were bracing for bad news on Monday, as property tax bills were to be sent out soon.

The property tax rates were released on Monday. NBC5 political reporter Mary Ann Ahern reported that a Chicago homeowner whose home has an assessed fair market value at $200,000, and who receives a homeowner exemption at $33,000, will have to pay $2,844 in taxes. In suburban Cook County, that same homeowner, with the same home, and who receives a $20,000 homeowner's exemption, will have a $4,665 tax bill.

Ahern reported that property tax bills would be due on Dec. 3.

Both the Chicago City Council and the Cook County Board were looking at ways to raise property tax bills next year, Ahern reported. Chicago aldermen were questioning the property tax hike for new libraries.

"How is it that we need $108 million more?" asked Alderman Manny Flores (1st Ward). "How is it that we have this huge hole?"

At the county board, some questioned Board President Todd Stroger's move to consider how to give back any extra money collected, even before the tax hikes are approved.

"I just wasted my time coming over here for a special board meeting that had the word -- 'will reduce taxes if appropriate,'" said Cook County Commissioner Larry Suffredin. "If appropriate? Give me a break! It's not appropriate to impose the tax in the first place so you don't have to abate them if they aren't appropriate."

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