Cook County Board of Review Commissioner George Cardenas Urges Passage of a Property Tax Relief Fund (Chicago, IL) – Cook County Board of Review Commissioner George Cardenas (BOR-1) is calling for passage of a Property Tax Relief Fund and congratulates Commissioner Bridget Gainer and the Cook County Committee on Workforce, Housing & Community Development for filing a proposed resolution calling to create the fund. According to the Cook County Treasurer’s Office, not only have county property taxes increased for 30 consecutive years, the 19 highest tax rates in the county are located in Chicago’s south suburbs, disproportionately affecting working-class and lower-income taxpayers.

“Enough is enough. With property taxes representing an ever-increasing share of taxpayers’ budgets, our working-class and lower-income households need property tax relief,” said Cardenas. “I applaud the County Workforce, Housing & Community Development Committee for stepping up and taking the issue of property tax fairness head on. We are at an ‘all options on the table’ moment and desperately need to provide property tax relief for our residents.”

Cardenas outlined his vision for statewide property tax circuit breaker legislation to the Chicago City Council’s Committee on Housing and Real Estate on Wednesday, September 11th. The proposal, referenced in The Daily Line and Chicago Sun-Times, is designed to alleviate property tax burdens on working-class and low-income households by tying the property tax liability to their ability to pay. The legislation, which builds on a previous circuit breaker program for senior Illinoisans, would ensure that property taxes do not exceed a manageable percentage of household income.

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“This is about fairness. Property taxes are divorced from a person’s ability to pay. While middle-class homeowners are spending up to 6% of their income on property taxes, the wealthiest residents are paying just 1%,” said Cardenas. “This inequity is unsustainable. It’s forcing families out of their homes and renters to bear higher costs. By providing relief, we’re creating an environment where communities can thrive instead of facing the constant pressure of rising housing costs.”

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While the details are not finalized, the proposed legislation would apply to Illinoisans with annual income up to $75,000, adjusted annually for inflation and a home with an assessed value not exceeding $350,000. Homeowners who would benefit from the program would receive a credit or rebate for property taxes that exceed 5% of their annual income, with a maximum annual credit set at $5,000. The program would also extend to renters, where a claimed credit would be based on an estimated 20% of their annual rent representing property tax.

Cardenas will continue meeting with lawmakers and organizations across the state to fine-tune the proposal and help advance the legislation through Springfield.

Cook County Board of Review Commissioner George Cardenas Urges Passage of a Property Tax Relief Fund

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