(The Center Square) – Illinois state Rep. La Shawn Ford is hoping to see the Homeowner Relief Fund pilot program enacted by Cook County commissioners grow to help keep even more property owners in their homes.
Cook County recently approved a plan that allocates $15 million from the county’s nearly $10 billion budget for a program crafted to aid seniors and others struggling with the rising costs of rising property taxes.
“Any time you can help individuals with the out-of-control property taxes, especially those on fixed incomes, it’s a benefit to the housing market and the government,” Ford, D-Chicago, told The Center Square. “We have to look at ways that all levels of government participate in chipping in to make sure we meet the needs of all the struggling taxpayers. Cook County has their plan and we’re working also on something in Illinois.”
As part of the county’s plan set to go into effect early in 2025, residents deemed eligible for the program will receive one-time payments of up to $1,000. As sponsor of the proposal, Cook County Commissioner Bridget Gainer highlights that many of those same individuals are also among the most vulnerable any time taxes go up.
Ford added there’s a crisis in how properties are assessed.
“Are we assessing them properly? Knowing that we might have a flawed system, I think Cook County knows that it’s best to figure out a way to help mitigate some of the challenges that have arisen from the flawed system,” he said.
While many experts assert households shouldn’t be spending more than 5% of their income on property taxes, a recent study found roughly 1 in 5 Cook County homeowners are now paying more than 10% of their income on property taxes.
In the end, Ford said much of the credit for Homeowner Relief should go to Board President Toni Preckwinkle.
“Toni Preckwinkle is a great leader,” he said. “She’s got her ear to the ground. She understands what people need and she’s engaged now with the property tax. It’s about responding to the needs of the people and that’s what government is supposed to do.”
Efforts to address the state’s property taxes, which are among the highest in the nation, have largely gone nowhere at the statehouse. A state commission set to start Jan. 1, is set to evaluate the issue.
This article was originally published at www.thecentersquare.com
