The Cook County Board of Commissioners on Thursday, April 10, approved a resolution establishing the eligibility criteria for the Homeowner Relief Fund, a $15-million program to assist homeowners who have experienced a substantial increase on their property tax bills in recent years.
This program will provide immediate relief to residents as the county continues to pursue long-term property tax reform efforts at the state and local levels. These broader efforts are being led by the Property Tax Reform Group (PTAX), which includes the separately elected offices that make up the property tax system, as the county works to identify and advance system-wide reforms.
Under the direction of the Cook County Bureau of Economic Development, the Homeowner Relief Fund will provide one-time payments of $1,000 to eligible households. The application is expected to open this summer, with the payments issued shortly after.
In order to be eligible, households must have an income at or below 100 percent of the Area Median Income for their respective household size. Under these guidelines, for example, a four-person household making $119,900 or less would be eligible. Applicants must have also seen their property tax bill increase by at least 50 percent in any year since the 2021 tax year.
AidKit, Inc., will serve as the administrator for this program, creating the application website, offering applicant support, reviewing applications and providing the $1,000 payments. If needed, the Bureau of Economic Development and AidKit will implement a lottery system to select applicants.
Commissioner Bridget Gainer (10th District) convened a public hearing in September to discuss the issue and hear directly from homeowners.
“As we’ve met with over a thousand homeowners during the last few years to assist with property taxes, we’ve heard firsthand the need for a lifeline. Property taxes are rising faster than homeowners’ ability to pay, forcing people to leave neighborhoods they love and undermining the best ability to build wealth — homeownership,” Gainer said. “I’m proud of the work we’ve done to launch the Homeowner Relief Fund and provide much-needed relief in the short term, while we seek solutions for sustainable property tax relief in Springfield.”