Committee on Ethics & Government Oversight
RESOLUTION
A resolution calling on Corporation Counsel to investigate the legality in the recent Cook County Property Tax increases for the second instalment payments in Chicago's in 2022 that go over the 25% increase and to consider the utilization of TIF funds for relief for homeowners who will be at risk of foreclosure or scavenger tax sale.
Last winter's property taxes came as a shock to many Chicagoans. After the dust settled it was clear that the brunt of the hikes were places on the most vulnerable areas; working class communities of color. The office of the County Treasurer confirmed that there was unprecedented burden places on few while business received copious relief. Many have called these increases criminal. Given the short time to pay and the immediate regressive penalties when payment is not on time, many will soon face financial hardship that could lead to foreclosures or property seizures for non-payment of taxes.
We call on the City of Chicago's Corporation Counsel to investigate the legality of specific communities seeing increases, on average above 25% but as high as 45% in unique cases, on their property taxes and to present these findings to the Committee on Ethics and Government Oversight.
Further, we call on the city to explore creative solutions to provide temporary relief for these communities who are struggling to take on the burden of a broken system.
We call for this hearing to take place as soon as practically possible for the called offices and committees in this resolution to organize, research, and report back.