Report to Mayor Daley Recommends Changing Property Tax Reassessments
November 25, 2008
A Chicago Mayoral Commission recently released recommendations aimed at protecting homeowners from the fluctuations in home prices. The recommendations include expanding the State circuit breaker program, which links property tax bills to the ability of homeowners to pay, and moving toward annual reassessments, which would allow for decreasing home values to be reflected more quickly in individual property tax bills. These programs would not only require State legislative action, but would most likely have to be implemented on a county-wide basis. A WGN video link described the Mayoral Commission’s recommendations.
http://www.chicagobreakingnews.com/2008/11/panel-seeks-property-tax-changes.html
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- Ares G. Dalianis
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