News - January 5, 2007 - Legislature ought to renew cap on property tax hikes
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CITY TURNS COMPETITIVE

HOWEVER IMPERFECT, CAP BRINGS ORDER TO TAX SYSTEM

TAX CAP BRINGS A BREAK IN SOUTH, WEST SUBURBS

LEGISLATURE OUGHT TO RENEW CAP ON PROPERTY TAX HIKES

BIZ TAX LOAD GETS LIGHTER; HOUSING BOOM SHIFTS PROPERTY-TAX BURDEN; CITY TURNS COMPETITIVE

HOMEOWNERS TAKE FIGHT FOR TAX CAP TO POLS: 'I'M MAD AS HELL AND . . . HELP!'

 

 

Cynthia Burgin scribbled her frustration in black marker across a notice warning that her property tax assessment on her Lincoln Square home jumped nearly 49 percent: "I'm mad as hell and . . . HELP!"

It was just one of more than 400 assessment notices members of the Tax Reform Action Coalition delivered to the offices of House Speaker Michael Madigan, Mayor Daley and Gov. Blagojevich on Monday.

Nearly 50 TRAC members delivered the paperwork as part of their plea that state lawmakers reinstate a 7 percent cap on property tax assessment increases for Cook County homeowners.

"On the eve of the fall veto session, we want the mayor and the governor to sit Mike Madigan down and say, 'Mike, find the votes,' " said TRAC president Barb Head.

Passed Senate, failed in House

The proposed three-year extension effectively would increase the homeowner exemption on a property's taxable value, which could amount to a $5,000 to $20,000 tax break.

Without it, property owners would only receive a flat $5,000 reduction in their property valuation.

Lawrence Delby, a resident of Old Irving Park, said the 32 percent assessment hike on his place will force him to make a tough choice -- either pay for health insurance or property tax.

"My wife is retired. I'm trying to start up a business. We just barely get by month to month. [The increase] will have a huge affect on us," he said. "I might have to abandon my business venture and go get a job to pay the taxes."

The proposed cap passed in the Senate during the spring legislative session but failed in the House.

Madigan spokesman Steve Brown said the speaker supports the assessment cap, but wouldn't say if it's likely to pass in the veto session.

Cook County Assessor James Houlihan remains "hopeful" the measure will pass during the veto session, spokeswoman Maura Kownacki said.

mkonkol@suntimes.com

CHALLENGING YOUR PROPERTY ASSESSMENT

When to file an appeal: If you believe your assessed valuation is too high or there's an error in your property description.

Where to find information to help an appeal: Appeals can be researched at the assessor's downtown office or online at www.cookcountyassessor.com. Homeowners can compare the assessed valuation and recent assessments of their property with neighboring homes.

How to file an appeal: Appeals can be filed either electronically, in person or by mail.

Where to get help: Assessor's office staff will walk you through the process. An attorney or tax representative isn't necessary.

Source: Cook County assessor's office
 
 
 
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