Many of us were caught by surprise when the second installment of the 2015 real estate tax bills arrived in the mail this past July. Steep increases were the norm, especially for homeowners in parts of town that experienced healthy increases in property values over the past few years. That’s the bad news.
The good news is that the City is offering many of us rebates of up to $200. The amount can be more if you are eligible for a senior or enhanced grant.
From the City’s website:
In order to qualify for a City of Chicago property tax rebate, homeowners must meet all the following eligibility requirements:
- Chicago Resident and Homeowner;
- Received the Cook County Homeowners’ Exemption in the most recent property tax year;
- Household adjusted gross income of $75,000 or less in 2015;
- City of Chicago portion of property taxes increased on most recent tax bill;
- Current on the payment of property taxes;
- Do not owe real estate taxes on other property located in Chicago; and
- Do not have City debt (e.g. parking tickets, overdue water bills). In cases where City debt is owed, the rebate will be applied to the debt.
For more details on the City’s “free” money, visit this link. You can apply at any one of 26 neighborhood locations around the city.
Time is running short on this program. However, if you are one of the many people who took this week off, here’s the perfect way to spend your Friday morning…
Happy New Year to everyone! Hat tip to Curbed Chicago for the heads up on this program. As far as I know, it was not very well publicized.