Lawmakers slept on most of the property tax reforms Cook County leaders wanted in the Illinois General Assembly this session.
Efforts to overhaul Cook County’s property tax system largely fizzled out in Springfield, leaving in limbo a slate of proposals aimed at easing pressure on homeowners hit with soaring bills, the Chicago Tribune reported.
A revamp of the purportedly unlawful tax lien sale processes was among the most prominent reforms to stall; Cook County recently froze such sales to give Springfield more time to address the practice known as equity theft, which is subject to a 2023 U.S. Supreme Court ruling.
That measure wasn’t alone. The assembly also left hanging these proposed reforms:
- An expansion to the “senior freeze” exemption, which lets low-income homeowners over 65 cap their assessed value to avoid sharp tax hikes. The $65,000 income threshold was set in 2017. Lawmakers considered raising it to $85,000, then $70,000, but the proposal never reached a final vote.
- The Cook County Assessor Fritz Kaegi-backed “circuit breaker” proposal, which would have granted tax credits to low-income residents that are hit with steep hikes. It stalled in part due to cost concerns in a tight state budget year.
- A related plan backed by Cook County Clerk Monica Gordon to let homeowners set up installment plans for back taxes likewise didn’t make it through.
Some progress was made, despite the setbacks: Legislators passed a 10-year extension of the Affordable Housing Special Assessment Program, which lowers tax bills on properties that maintain rent restrictions. The updated bill also expands eligibility to scattered-site properties that are part of larger developments.
As for this year’s property tax bills? Their arrival is still delayed.
Tyler Technologies, the contractor hired to modernize Cook County’s property tax system, is working with the clerk and treasurer’s offices on software fixes. Officials expect tax bills to be about a month late.
Not only are more homeowners paying higher taxes in Illinois metros than in any other state in the nation, but property tax appeals among commercial owners in Cook County shifted $2 billion to homeowners’ tax bills over the past assessment cycle, according to a study from Pappas’ office last month. About 237,000 Cook County property owners’ bills jumped by at least 25 percent in the last cycle, according to Kaegi’s office.
County officials say they’ll revisit the reforms during a possible veto or special session later this year.
— Judah Duke