Cook County homeowners have one week to take advantage of a property tax break. It’s part of a program set to expire next year, but some politicians are trying to make it permanent.
The break is a 7-percent cap on property tax increases. Opponents say it’s unfair to local businesses. They say homeowners paying less means businesses pay more to meet the county’s fiscal needs. Cook County Assessor James Houlihan says that’s nonsense.
HOULIHAN: I suppose under some tortured logic, they could call that a shift onto business, but it is not accurate.
He says home values have far outpaced those for business property. And the tax cap helps even out the financial burden.