CHICAGO (WGN) — Cook County homeowners may finally have something to smile about when it comes to taxes.
Cook County Board President Toni Preckwinkle announced on Monday a relief program for homeowners worth a whopping $15 million.
“People are working hard to make ends meet, and we know that’s a challenge,” Preckwinkle said.
Bridget Gainer is commissioner of the 10th District.
“The interest that is collected on back taxes and on delayed taxes was a way that we were able to identify that there were excess funds in the budget,” Gainer said.
The allocated funds resulted from a county-commissioned study conducted by the University of Chicago.
“What they found was this unpredictability in property taxes was something that was happening countywide,” Gainer said.
The assessor’s office shows almost a quarter of a million homeowners in Cook County saw their property tax bills recently spike by 25 percent – or more – in a single year.
For example, residents across Thornton Township, which includes parts of Harvey, South Holland, and Calumet City, have paid more than $42 million in additional property taxes over the last few years, even though the township itself accounts for less than one and a half percent of the countywide assessed value.
In nearby Bremen Township, the median tax spike has been by 213 percent – or almost $3,000 ($2,923). Resident Richard Lyons told WGN-TV that the taxes are just too much.
“They’re really high for this neighborhood, around $7,000 per year,” Lyons said. “I’ve seen some. A couple of blocks over, I knew some people who ended up foreclosing their home because of taxes.”
Bill Rodd, Lyons’ neighbor, said he receives some relief through veterans’ assistance, but he feels the same way, although he has yet to see the latest numbers.
“I haven’t seen the next tax bill lately,” Rodd said. “They keep putting it off. It’s not until next month.”
He’s not wrong, as second installment bills are typically mailed out over the summer. Many told WGN-TV they have yet to arrive.
How do you apply?
Applicants interested will need to have seen a 50 percent increase in taxes in either 2021, 2022, or 2023.
The household income of interested applicants must be at or below the median income for the county area. For example, for a family of four, this would be $119,900. The home in which they’re paying for must be their primary residence.
To apply, click: https://www.cookcountyil.gov/service/cook-county-homeowner-relief-fund
Applications must also be submitted by Friday, Oct. 10.
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