Cook County is exploring a new property tax relief program funded by excess late fees amid record-high tax increases.
Cook County Proposes New Property Tax Relief Program Using Late Fees to Help Soak Up Spike in Taxes
Cook County is considering a new program to help with the record-high property taxes. Tax bills have jumped by 20% in the south suburbs and 15.7% in the north and northwest suburbs. To help, 13 of the 17 board members want to create a rebate program funded by late fees. The county has collected about $54 million in late fees this year more than the $35 million expected. The goal is to offer some relief especially to low-income seniors.
Cook County Board Approves $24 Million in Legal Settlements, Tackles Tax Relief
The relief program is still being planned and so it’s not clear who will qualify or how much they will get. With $611 million in new taxes due this year, it’s uncertain how much help will be possible. County Treasurer Maria Pappas has called the proposal too early and pointed out ongoing reforms like lowering late fee interest rates and improving how delinquent taxes are handled. Right now, taxpayers can make partial payments before the due date with late fees going into the county’s general fund.
In other news, the Cook County Board approved $24 million in legal settlements including $7.25 million for one of the “Marquette Park Four,” who were wrongly convicted and jailed as teenagers. The board also agreed to move the medical examiner’s office to a new modern building that will better meet the county’s needs and improve its efficiency, according to the report of Chicago Tribune.
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