Property taxes in Cook County are crushing our most vulnerable communities. That’s why I have authored and sponsored an amendment now in committee to fix the long-abused “2-12” property classification loophole. For years, thousands of these properties have been wrongly taxed at the residential rate of 10% instead of the proper 25% commercial rate. This mistake has unfairly shifted the tax burden onto everyday homeowners. My amendment will correct this misclassification and return an estimated $175 million annually back to residential taxpayers. I am also beginning the discussion on a proposal to provide meaningful property tax relief for seniors. Under my plan, homeowners 65 and older would see a 10% reduction in their property tax bills every five years, allowing seniors to age in place without fear of losing their homes. To ensure this is sustainable, I am calling for adjustments within the Cook County sales tax structure. These initiatives reflect a simple principle: government must stop rewarding loopholes and start protecting the families and seniors who have carried this county for decades.
Commissioner Sean M. Morrison
CHICAGO TRIBUNE NEWSPAPER EDITORIAL
