A new program will distribute one-time $1,000 grants to eligible homeowners in Illinois’ Cook County who received significant property tax hikes.
WTTW reports a new $15 million homeowner relief fund program has been set up to assist homeowners that experienced a spike in their property taxes. Eligible homeowners must have received a property tax bill increase on their primary residence of at least 50% during the 2021, 2022 and 2023 tax years.
Other eligibility requirements include an income at or below 100% of the Cook County Area Median Income for the applicant’s household size. Depending on the number of eligible applications received, grants will be distributed on a lottery system with recipients receiving a one-time $1,000 payment.
“In the Cook County property tax system — much of which needs to be reformed — the taxes and interest, the interest that is collected on back taxes and on delayed taxes was a way that we were able to identify that there was excess funds in the budget,” said 10th District Commissioner Bridget Gainer. “These eventually came out of county funds, and we’re grateful that they did because we think it’s going to make a tremendous difference in people’s ability to stay in their neighborhood.”
