Someone in town just told me the collar county property tax caps will expire this year and I wanted to see what this community knew about this.
If this were true, would cook county be able to increase property taxes at will and with no limitation - and with no public referenda on such tax increases?
Same question with local municipalities such as Riverside.
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I did see a reference to the expiration of the caps this year in this google search hit (my emphasis). I still had the questions on the consequences of the expiration of the tax cap.
Now, with 2010 being a year in which high taxes and government spending are top-of-mind in every public opinion poll, outgoing Cook County Assessor Jim Houlihan (a Democrat) has warned that Madigan and Berrios are plotting to delay the second installment of property tax bills until after the November 2 election.
Why would they do that? Simple: with the county property tax cap having expired, and pre-housing bubble assessments promising to wallop county taxpayers with a huge property tax bill — the last thing the machine wants is an anti-tax voter backlash on Election Day. Click here to watch a video of Commissioner Peraica explaining the property tax bill issue in more detail.
