title
PROPOSED ORDINANCE
COOK COUNTY HISTORIC DISTRICT PRESERVATION EXEMPTION
WHEREAS, Cook County residents are experiencing substantial and unpredictable property tax increases; and
WHEREAS, Cook County residents residing in historic districts are experiencing even more substantial and unpredictable property tax increases due to the overlap of some historic districts with areas experiencing rapid displacement and gentrification; and
WHEREAS, in June 2017 a Tribune published an investigation entitled "The Tax Divide" that detailed widespread inconsistencies and inequities in Cook County home valuations; and
WHEREAS, between 2015 and 2016 more than 12,000 black residents left Cook County and since 2010 the greater Chicago areas has seen a loss of nearly 46,000 black residents; and
WHEREAS, between 2000 and 2017, the community area that includes Little Village saw its Latino population drop from about 75,500 to 62,500, according to Paral's data; and
WHEREAS, due to COVID-19, many families faced displacement of homes in Chicago due to loss of jobs and missed payments; and
WHEREAS, the Southwest side neighborhood, Pilsen, known for its Latino culture and identity has seen a loss of 5,512 Latinos (about 19 percent) according to the 2020 Census; and
WHEREAS, certain areas designated as Historic Districts by the National Register of Historic Places overlap with areas experiencing rapid displacement, gentrification and loss of cultural heritage; and
WHEREAS, in recognition of the severe economic circumstances that many longtime homeowners face, the Illinois Legislature and the Cook County Board of Commissioners have historically created legislation to target impacted communities; and
WHEREAS, the Illinois Legislature passed Public Act 88-451, the Longtime Owner-Occupant Property Tax Relief Act (35 ILCS 250, et. seq.) with the purpose of providing property tax relief to longtime homeowners, whose property taxes rose sharply as a result of new constructio...
Click here for full text