Committee on Finance July 24, 2019
RESOLUTION
Whereas, property taxation is a function of the government that the public has the right to scrutinize because the process must be accurate, uniform, and fair; and
Whereas, the recent release of Cook County property tax bills for tax year 2018 show that property taxes have increased overall compared to the previous year of 2017, with the average tax bill for single-family homes in the City of Chicago increasing by 2.15%; and
Whereas, many communities within the city of Chicago currently experiencing displacement of long term residents, saw a disproportionately larger increase in the average property tax bill; and
Whereas, based on academic studies examining changes in demographics, socioeconomic data, and local housing markets, the Chicago community areas that are experiencing displacement include, but are not limited to, Logan Square, Uptown, Bronzeville (Grand Boulevard), Pilsen (Near West Side), Avondale, Bridgeport, Irving Park, Rogers Park, Woodlawn, Hyde Park, Albany Park, Humboldt Park; and
Whereas, these same community areas have experienced a dramatic increase in the median tax bill compared to the previous year, with an increase of 24.09% in Logan Square, 19.93% in Uptown, 16.01% in Bronzeville (Grand Boulevard), 13.72% in Pilsen (Near West Side), 11.25% in Avondale, 10.21% in Bridgeport, 10.2% in Irving Park, 9.85% in Rogers Park, 7.31% in Woodlawn, 6.78% in Hyde Park, and 6.03% in Albany Park, 3.6% Humboldt Park; and
Whereas, this dramatic increase in the median property tax bill in the aforementioned community areas increases displacement pressure in those community areas by placing additional burden on longtime homeowners, often causing longtime homeowners to sell, or lose their lifelong homes in the county property tax scavenger sale; and
Whereas, property tax increases in community areas that already have high property values such as Lincoln Square and Lakeview, the pressure for longtime homeowner...
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