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Record #: O2015-6453   
Type: Ordinance Status: Introduced
Intro date: 9/24/2015 Current Controlling Legislative Body: Committee on Finance
Final action:
Title: Amendment of Municipal Code Chapter 2-32 by adding new Section 2-32-627 concerning property tax rebate program
Sponsors: Ramirez-Rosa, Carlos, Arena, John, Waguespack, Scott, Munoz, Ricardo, Foulkes, Toni, Sadlowski Garza, Susan, Sawyer, Roderick T., Sposato, Nicholas, Moore, David H., Maldonado, Roberto, Hairston, Leslie A., Taliaferro, Chris, Villegas, Gilbert, Santiago, Milagros
Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 32 Dept. of Finance
Attachments: 1. O2015-6453.pdf






ORDINANCE

PROPERTY TAX REBATE PROGRAM

WHEREAS, the City of Chicago is a home rule unit of government as defined in Article VII, Section 6 (a) of the Illinois Constitution, and, as such, may exercise any power and perform any function pertaining to its government and affairs;

WHEREAS, on September 3, 2015 the Mayor of the City called for a property tax increase that may amount to a sixty percent increase over the City's 2014 levy;

WHEREAS, such a large property tax increase threatens the stability of the City's neighborhoods by placing a burden on the limited incomes of the City's working families;

WHEREAS, it is in the best interests of the City's working families and neighborhoods to fashion a program of property tax relief; and

WHEREAS, the City Property Tax Rebate Program of 2010 identified $35 million in funds from the parking meter concession revenues, of which only $2.1 million was distributed; NOW, THEREFORE

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO, AS FOLLOWS:

Section 1. Purpose: Relation to other Ordinances.
The purpose of this Ordinance is to provide for the implementation of a property tax relief program where the City will reimburse a portion of property taxes paid by qualified owner-occupants of certain residential units in the City upon application and presentation of proper documentation. Further, this Ordinance would reinstate relevant parts of the Property Tax Relief Program set forth in Section 2-32-627 of the Municipal Code of Chicago. To the extent that the provisions of this Ordinance conflict with anv prior Ordinance or provision of the Citv. this Ordinance shall control.

Section 2. Definitions.
SECTION 1. Chapter 2-32 of the Municipal Code of Chicago is amended by adding a new Section 2-32-627, as follows:

2-32-627 Property Tax Rebate Program

(a) As used in this section:
"Applicable year" means the calendar year for which a homeowner has received a final real estate tax bill that exceeds the final real est...

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