Suffredin- An Advocate for All of Us  
 

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.

   
  Eighteen of the 20 largest banks in the world and more than 50 foreign banks have offices in Cook County.
   
     
     
     



Assessor touts new lawís tax savings

Thursday, September 01, 2005
Daily Herald
by Eric Krol

Cook County Assessor Jim Houlihan estimated Wednesday that 97 percent of Northwest suburban homeowners will get a larger homestead exemption and nearly two-thirds will see smaller property tax bills this fall.

And he credits the property tax relief to a new state law he pushed that caps increases in residential property tax assessments at 7 percent a year and expands the standard homeowner exemption to a minimum of $5,000.

ďThe message is that the 7 percent (cap) worked. It provided substantial protection in making the reassessment and the cap fair,Ē Houlihan told the Daily Herald editorial board.

Business groups opposed the measure, arguing that reducing assessments on homes would mean a greater share of the tax burden would fall on them.

Houlihan argued it hasnít been as bad as businesses feared. His figures showed that in Arlington Heights, for example, commercial buildings bear 23 percent of the property tax burden, a figure that would have fallen to 20 percent this year without his new law.

Illinois Manufacturing Association President Greg Baise said itís too early to tell what effect the law would have.

ďI think itíll take three or four years to show up,Ē Baise said.

The law allowed all counties to either opt in or out of the 7 percent cap, and only Cook opted in. While collar counties all opted against the cap, the law did provide for increasing the homestead exemption from $3,500 to $5,000 this year.

Houlihan released estimates on how the cap will affect seven North and Northwest suburbs when tax bills come out around Oct. 1. In Des Plaines, for example, 67 percent of homeowners are projected to have a lower tax bill and 98 percent would have a larger exemption. The median homestead exemption savings from the new law is expected to be $1,261 in Des Plaines.

About 3 percent of homeowners wonít see a larger homeowner exemption, Houlihan said, because they live in neighborhoods where home values arenít increasing by more than 7 percent a year.

Baise also said the real issue for businesses is the countyís out-of-date property tax system that assesses commercial and industrial property at more than twice the rate of homes.

Houlihan acknowledged the classification system needs updating but said itís tough. Instead, he plans to go to Springfield to lobby for making the 7 percent cap permanent



Recent Headlines

U.S. appeals judges: Go fight over lawsuits with Dorothy Brown in state court
Sunday, November 13, 2918
Chicago Sun-Times

She's been waiting 15 months for her rape kit to be processed. A new proposal to track evidence aims to change that.
Wednesday, November 14, 2018
Chicago Tribune

Preckwinkle to unveil policy roadmap for Cook County for next five years
Wednesday, November 14, 2018
Chicago Sun-Times

COMMENTARY: Here's how the Shakman case curbed Cook County patronage
Tuesday, November 13, 2018
Chicago Tribune

Appeals court backs Dorothy Brown in lawsuit over public access to electronic records, says judge overstepped authority
Tuesday, November 13, 2018
Chicago Tribune

Whatís Next As Voters Overwhelmingly Support Higher Minimum Wage, Paid Sick Time
Monday, November 12, 2018
Journal and Topics Online

Cook County Board President Toni Preckwinkle's security chief fired after review spurred by watchdog report
Thursday, November 08, 2018
Chicago Tribune

An earlier opening day: 2019 Cook County forest preserves permits go on sale Nov. 15
Thursday, November 08, 2018
Chicago Tribune

Cook County opening 2019 picnic permit sales Nov. 15
Monday, November 05, 2018
Special to suffredin.org

The Cook County Land Bank looks to go commercial
Monday, November 05, 2018
RE Journal

Nov. 15 is new opening date for Cook County forest preserves permits
Monday, November 05, 2018
Daily Herald

Cook County Gun Dealer, Minimum Wage Referendums On Ballot
Monday, November 05, 2018
Patch

The Abandoned WWI Monument One Chicago Man Is Determined To Save
Friday, November 02, 2018
Chicago Patch

Cook County freed from federal oversight
Thursday, November 01, 2018
Chicago Daily Law Bulletin

First-of-its-kind trauma recovery center serves survivors of domestic violence, hate crimes, sexual assault, gun violence in Cook County
Monday, October 29, 2018
ABC 7

Northbrook opts in to Cook County paid sick leave ordinance, more uncertainty for employers, lawyer says
Monday, October 29, 2018
Cook County Record

First-of-its-kind Advocate Trauma Recovery Center serves survivors of domestic violence, hate crimes, sexual assault, gun violence in Cook County
Monday, October 29, 2018
WLS Channel 7

Cook County sheriff, CVS team up on safe prescription painkiller disposal
Saturday, October 27, 2018
Chicago Sun-Times

HOPE Court, created to keep probationers out of prison, shut down amid problems
Friday, October 26, 2018
Chicago Sun-Times

Can Kaegi really reform the assessor's office?
Friday, October 26, 2018
Crain's Chicago Business

all news items

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