The City Is Doing Something To Help The High Real Estate Tax Increase In Chicago.
It is meant to provide relief between $25 and $200 to City homeowners
hit hardest by increases to their 2008 property tax bill for their primary residence.
This program is needed largely because of the phase-out of the state law
that put a 7 percent cap on the annual increase in the taxable value of
home property, and because the drop of this year's exemption under
that law went to $20,000 from $26,000.
The amount of tax relief you might receive is based on a combination
of income level and the amount of your property tax increase.
For example, the lower your income and the higher your property tax increase,
the more relief you’ll be eligible for.
On this website, you will be able to find an application, instructions and
helpful tools to guide you through the application process.
http://webapps.cityofchicago.org/PropertyTaxReliefWeb/
It is meant to provide relief between $25 and $200 to City homeowners
hit hardest by increases to their 2008 property tax bill for their primary residence.
This program is needed largely because of the phase-out of the state law
that put a 7 percent cap on the annual increase in the taxable value of
home property, and because the drop of this year's exemption under
that law went to $20,000 from $26,000.
The amount of tax relief you might receive is based on a combination
of income level and the amount of your property tax increase.
For example, the lower your income and the higher your property tax increase,
the more relief you’ll be eligible for.
On this website, you will be able to find an application, instructions and
helpful tools to guide you through the application process.
http://webapps.cityofchicago.org/PropertyTaxReliefWeb/
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