Assessor Kaegi Announces Property Tax Relief Bill for Hard-hit Homeowners (Cook County, IL) — Cook County Assessor Fritz Kaegi announced the filing of a new bill in the Illinois Legislature aimed at providing property tax relief for struggling homeowners in Cook County.
The Circuit Breaker Property Tax Relief Act was filed in the Illinois Senate as SB1978 by Sen. Patrick Joyce (D-40th) and in the House as HB3808 by Rep. Justin Slaughter (D-27).
This program is designed to help homeowners who have seen their tax bills spike by 25% or more from one year to the next. Credits given to homeowners would cover up to half of the tax bill increase.
“It’s critically important that our working families and seniors on the South Side of Chicago and in Cook County’s south suburbs receive important financial relief from rising property taxes and costs of living,” said Rep. Slaughter.
“This innovative circuit breaker program will bring real, immediate assistance to those who need it most. I look forward to working collaboratively to establish this vital program for our most underserved communities.”
The need for property tax relief became urgent after homeowners in Cook County’s south and west suburbs saw significant bill increases in the summer of 2024. The typical residential bill increased by nearly 20%, or about $1,000, according to an analysis from the Cook County Treasurer’s Office.
“Coming out of the pandemic, single-family home values have grown. In the past four years, more than 300,000 homeowners across Cook County have seen their property tax bills spike by 25% or more,” said Cook County Assessor Fritz Kaegi. “Now’s the time to do something about it.
“With this bill, I hope we can start to move toward a property tax system that’s fair for all, one that doesn’t leave working-class families and senior citizens scraping together enough money for property taxes twice a year.”
Circuit breaker programs are common across the country – 29 other states, as well as the District of Columbia, already have them on the books. Illinois has previously had a similar program in place for senior citizens.
The relief program would apply to homeowners in the south and west suburbs, as well as all other parts of Cook County, who have seen large bill spikes dating back to 2021. If enacted, homeowners will have to claim a General Homestead exemption, as well as meet an income eligibility limitation, to be able to apply for credits through the program.
Assessor Kaegi Announces Property Tax Relief Bill for Hard-hit Homeowners
