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PROPOSED ORDINANCE AMENDMENT
REAL PROPERTY TAXATION
BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 74., Taxation, Article II. Real Property Taxation, Division 2. Classification System for Assessment, Section 74-63 (2)(c) of the Cook County Code is hereby amended as Follows
CHAPTER 74 - TAXATION
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ARTICLE II. - REAL PROPERTY TAXATION ARTICLE II. - REAL PROPERTY TAXATION
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DIVISION 2. - CLASSIFICATION SYSTEM FOR ASSESSMENT
Sec. 74-63. - Assessment classes.
Real estate is divided into the following assessment classes:
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(2) Class 2. Real estate:
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c. Improved with a building put to commercial and residential use, of six or less units where the building measures less than 20,000 square feet of above grade space; or Class 2-12: Improved with a building put to commercial and residential use, of six or fewer units, where the building measures less than 20,000 square feet of above-grade space; and the legal or equitable owner of the subject property uses the subject property as their principal place of residence, receives a homeowner’s exemption on the subject property, and files a declaration of eligibility with the Cook County Assessor as of January 1 of each respective year; or
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Effective date: This ordinance shall be in effect immediately upon adoption.
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