Mayoral hopeful Mendoza backs away from graduated property tax plan

The current state comptroller said she “missed the mark” on her proposal to set higher property assessment rates for pricey homes

Jan.January 09, 2019 09:00 AM

Susan Mendoza

Only days after proposing a graduated property tax system that would assess expensive homes at a higher rate than others, Chicago mayoral hopeful Susana Mendoza is ditching the idea.

The current state comptroller over the weekend unveiled a package of initiatives she’d pursue as mayor that included the graduated assessment system. But in an op-ed to Crain’s Monday, Mendoza said she “missed the mark” with the idea.

Residential property in Cook County is assessed at a flat rate — 10 percent — but Mendoza had suggested to Crain’s a system with three or four tiers, with the assessment rate rising with the value of the property.

But she quickly reversed course, saying her idea was “misconstrued” and “misrepresented.” Now she said she will leave the task of overhauling the property tax system to new Cook County Assessor Fritz Kaegi.

Property taxes on more expensive properties in the county are already expected to rise under Kaegi, who has vowed a number of changes in the way his office values properties after beating longtime Assessor Joe Berrios. [Crain’s] — John O’Brien

Related Articles

(Credit: iStock)

Chicago-area home values saw poor start to 2020

Mayor Lori Lightfoot (Credit: Getty Images)

Chicagoans flee to their second homes

854 W. Webster Ave. (Credit: Redfin)

Here are the priciest resi sales in Chicago this week

From left: Lendlease CEO Steve McCann, and Magellan CEO David Carlins, with a rendering of the Cirrus and Cascade projects (Credit: Lendlease/Magellan/bKL Architecture via Curbed)

Lendlease, Magellan land $283M in construction financing for resi towers project

(Credit: iStock)

Chicago is No. 3 city for single women to buy a home: study

Cook County Board of Review Commissioner Michael Cabonargi and Cook County Assessor Fritz Kaegi (Credit: Facebook, Cook County)

Cook County Board of Review slashes Kaegi’s commercial property assessments in 7 northern townships

Cook County Assessor Fritz Kaegi (Credit: iStock)

Fritz Kaegi on investor redlining, tax appeals, corruption, and what happens next

924 N. Clark Street and owner of the mansion, Rishi Shah

Revealed: What accused fraudster Rishi Shah paid for one of Chicago’s grandest mansions