note: We are publishing this letter only for the information
of our readers.
Opinions expressed are not necessarily those of this publication.)
Reform Action Coalition (TRAC) continues its mission to
enact a fair and predictable property tax system in Illinois.
7% property assessment cap expired prior to the 2009 property
tax reassessment, we are faced, yet again, with the need
to fight for reform. We have joined with state representatives
and aldermen in calling for a renewal of the 7% assessment
cap - but that is not the long term solution.
a plan for a permanent assessment cap. It is FAIR because
assessment increases will be capped and consistently applied
to all properties, apartment buildings, businesses and homes.
It is PREDICTABLE because increases, as TRAC proposes, will
be capped at a maximum of 2% a year, for everyone.
assessment cap prevents any skyrocketing assessment increases
that are tied to bubble market values, and new assessments
will be based on the purchase price of a property. This
means that property owners will not be taxed on unrealized
gains and the capped assessments will promote stability
in our neighborhoods.
what to do: There will be opponents to this clear, logical
thinking which is why we are asking you to support TRAC.
our website at www.trac-il.org and Join Our Email list.
keep you informed of our Actions and Alerts.