Civic Federation Supports Class 3 Assessment Reduction, but Cautions that Fundamental Property Tax Reform is Still Needed

February 13, 2006

The Civic Federation supports Assessor Houlihan's proposal to reduce Class 3 assessment levels from 26% to 20% of market value over three years, but cautions that this reduction is likely to have only a very modest effect on the supply of affordable rental housing in Cook County, and urges more comprehensive reform of the Cook County property tax system.