In the wake of mounting property taxes, the Cook County Board of Commissioners took an important step. It gave its approval to a resolution confirming the eligibility conditions for its Homeowner Relief Fund. This initiative aims to provide substantial relief to homeowners facing financial strain.
Highlights
- The Cook County Board of Commissioners shared the eligibility requirements for residents to get relief from property taxes.
- Eligible households may receive a one-time $1,000 payment through the Homeowner Relief Fund.
- Applications for the Cook County households will start in summer this year.
Property Tax Relief for Cook County Households
The $15 million Homeowner Relief Fund program is a long-term property tax reform effort intended to help Cook County residents at local and state levels. It is spearheaded by the Property Tax Reform Group, which covers different elected offices of the property tax set-up.
Homeowner Relief Fund will Offer $1000 to Eligible Households
Helping Cook County to identify and perform reforms, the Cook County Bureau of Economic Development is set to offer $1,000 as a one-time payment. The amount will be offered to eligible Cook County homeowners, who can start applying for it this summer.
Citing increasing property tax bills, the County Board President, Toni Preckwinkle, expressed her concern for troubled Cook County residents. She added that this fund would offer short-term support to households and that her administration would keep working with the property tax reform group.
Eligibility Criteria for Cook County Households
The Cook County Board of Commissioners shared the eligibility requirements for tax-burdened homeowners. According to it, only those Cook County households that have an income at 100% (or below) of the Area Median Income for their household size and avail of the program.
Additionally, before applying, residents of Cook County will have to ensure that their property tax bill has an increase of 50% in any year after 2021.
Who will Administer the Tax Relief Program?
The Homeowner Relief Fund Program will be administered by AidKit, Inc. It will help the people of Cook County by developing the application website, reviewing the applications, making the $1,000 payments, and assisting applicants.
If the situation requires, AidKit, along with the Bureau of Economic Development, may take up a lottery system for picking applicants.
A Committed Effort for Property Tax Relief
In September 2024, the Cook County Board of Commissioners’ Bridget Gainer shared the board’s take on assisting homeowners facing property tax issues. Acknowledging the increasing Cook County taxes and people’s hardships with paying them, she said many had left the neighborhood.
But through the Homeowner Relief Fund, the board is driven to come up with short-term relief. Plus, they are looking for solutions that enable sustainable property tax relief in Springfield.
The County Board gave its nod for the $15 million Homeowner Relief Fund a month after this. The same was added to Cook County’s budget for 2025.
The approved $15 million Homeowner Relief Fund highlights an important step in addressing the increasing tax burdens of Cook County residents. By fixing the eligibility conditions and one-time payment amount, the Cook County Board of Commissioners is ready to offer some relief to homeowners this summer.
