Berrios Proposes Property Tax Relief Measure

Cook County Assessor Joseph Berrios announced Tuesday that he has crafted pending legislation in the Illinois General Assembly to increase the amount of savings for the Homeowner and Senior Exemptions. The bill is designed to soften the blow caused by the sunset of the 7 Percent Expanded Homeowner Exemption, which was originally designed to provide relief from rising home values before the economic downturn. “Although homeowners will continue to automatically receive the benefits of the standard Homeowner Exemption, they will see increases in their bills when the 7 percent savings is gone,” Berrios explained. “I want to offset this loss by increasing the savings taxpayers currently receive from the Homeowner and Senior Exemptions.” http://www.cookcountyassessor.com