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Old 09-24-2011, 02:04 PM
 
Location: Cabrini Green
248 posts, read 1,074,035 times
Reputation: 85

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Please say it aint so!

on top of rasing proptery tax's

I swear I heard somewhere that it was being canned!

Iam having a hard time finding anything on this....
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Old 09-24-2011, 02:19 PM
 
Location: Indianapolis
3,892 posts, read 5,516,023 times
Reputation: 957
Quote:
Originally Posted by 87vertgt View Post
Please say it aint so!

on top of rasing proptery tax's

I swear I heard somewhere that it was being canned!

Iam having a hard time finding anything on this....
Really is Illinois going to pull another one lets check my list here
Income Tax Raised by 66% in January-Check
Internet Tax against Amazon.com that failed and forced many businesses to just cross the state line into Indiana and Wiscounsin-Check
Raising the Tolls on the Toll Roads by nearly Double-Check.
Is Illinois trying to become as expensive to do business/live in as California? California has the 2nd highest unemployment rate and most people unemployed do we really want to follow in their footsteps?
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Old 09-25-2011, 08:55 AM
 
Location: Cabrini Green
248 posts, read 1,074,035 times
Reputation: 85
link

Cook County property values fall, yet taxes go up | abc7chicago.com
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Old 09-26-2011, 09:25 AM
 
14,798 posts, read 17,696,594 times
Reputation: 9251
the homeowner exemption is not going away
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Old 09-26-2011, 10:55 AM
 
Location: Cabrini Green
248 posts, read 1,074,035 times
Reputation: 85
^ Why would the news report it is?
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Old 09-26-2011, 10:59 AM
 
14,798 posts, read 17,696,594 times
Reputation: 9251
Because they are stupid.
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Old 09-26-2011, 11:08 AM
 
968 posts, read 2,667,218 times
Reputation: 431
They're reporting that a State Law that had a cap for increases ( and I think was called the Homeowners exemption) has expired .. The Cook County Homeowners Exemption process and rules, are , at last look, still intact .. They're be a torchlight parade if they try to scuttle that ..
And we knew, at least for the City, that the CPS was going to add a nice chunk to our bills already ..not a surprise there ..let's see what other taxing authority gets cute ..
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Old 09-26-2011, 11:13 AM
 
Location: Chicago - Logan Square
3,396 posts, read 7,214,622 times
Reputation: 3731
Quote:
Originally Posted by 87vertgt View Post
^ Why would the news report it is?
I think there's some confusion over the 7% increase cap being called an "exemption". The cap has been phasing out for a few years now, but you still pay lower taxes on a primary residence.

Overall Chicago's property tax rate isn't all that bad, but higher property values result in higher tax bills - here's a few comparisons:

Chicago:
Median real estate property taxes paid for housing units with mortgages in 2009: $3,147 (1.2%)
Median real estate property taxes paid for housing units with no mortgage in 2009: $2,197 (0.9%)

Indianapolis:
Median real estate property taxes paid for housing units with mortgages in 2009: $1,433 (1.2%)
Median real estate property taxes paid for housing units with no mortgage in 2009: $1,146 (1.1%)

Oak Park:
Median real estate property taxes paid for housing units with mortgages in 2009: $7,069 (1.8%)
Median real estate property taxes paid for housing units with no mortgage in 2009: $6,403 (1.8%)
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