This article is about Cook County homeowners who have seen their property tax bill increase despite declines in the assessed value of their homes. It cites the Civic Federation’s position on the Cook County property tax system, which found that the system is unnecessarily complex and creates economic distortion.
In this blog post, Greg Hinz discusses the findings of the Civic Federation's report on effective property tax rates in Northeastern Illinois. The 2009 effective rates for nearly all communities in the six-county area were higher they were ten years before, except in the City of Chicago. Effective tax rates for residential properties in Chicago were 1.4% lower in 2009 than in tax year 2000.
This evening news segment reports on the findings of the Civic Federations's report on effective property tax rates in six counties in northeastern Illinois. The Federation found that residential effective tax rates rose for all 32 communities included in the study between 2008 and 2009.
Cook County Clerk David Orr’s office today released the 2010 Cook County Tax Rates Report. The report lists property tax rates for all taxing districts in Cook County and provides sample composite rates for many municipalities. The composite rate is the total tax rate that appears on a tax bill. The composite tax rate on a typical City of Chicago tax bill will increase from 4.627% last year to 4.931%. This is the first time the rate has increased since tax year 1998 (payable in 1999) when it…
This report compares effective property tax rates in selected communities around metropolitan Chicago and finds that all communities’ effective tax rates for residential properties rose between tax year 2008 and 2009 for each of the 32 municipalities studied. The 2009 effective rates for nearly all communities were also higher they were ten years ago, except in the City of Chicago. Effective tax rates for residential properties in Chicago were 1.4% lower in 2009 than in tax year 2000 while…
Chicago Retains Comparatively Low Effective Property Tax Rates CHICAGO - The Civic Federation’s annual estimate of effective property tax rates in the six-county region of northeastern Illinois found that effective tax rates for residential properties rose between tax year 2008 and 2009 for each of the 32 municipalities studied. The 2009 effective rates for nearly all communities were also higher they were ten years ago, except in the City of Chicago. Effective tax rates for residential…
The Civic Federation urges the General Assembly to establish clear standards of eligibility on property tax exemptions for charitable organizations. We are concerned that many organizations are uncertain about their property tax liabilities due to the lack of clear, definable standards in the Illinois Constitution and state law and recent unexplained exemption denials by the Illinois Department of Revenue. To the extent that the General Assembly lacks plenary authority to define clear standards…
The Cook County Treasurer’s Office has announced that the second installment of 2010 property taxes is expected to be due in the first week of November. The exact date will not be known until the Cook County Clerk publishes the new composite tax rates later in September. The Treasurer needs the new tax rates in order to send out the second installment tax bills. The composite property tax rate for the majority of properties in the City of Chicago was 4.627% in tax year 2009. The rate has…
In this opinion piece, Phil Rosenthal discusses a recent lawsuit brought by the Regional Transit Authority and the City of Chicago against downstate municipalities in regard to the diversion of tax revenue. The Civic Federation says that similar lawsuits may occur more often in the future due to the fiscal pressures facing governments.
Today the Civic Federation published an update to its primer The Cook County Property Tax Extension Process: A Primer on Levies, Tax Caps, Tax Bills and the Effects of Tax Increment Financing Districts. The update adds additional years of data when available and provides an enhanced explanation of the effect of tax increment financing (TIF) on local governments and taxpayers in Cook County. This blog summarizes the TIF explanation included in the primer. For more detail and background, please…
