Commissioners within the second-most populous US county have green-lit giant funds to residents who’re struggling to make ends meet.
The Board of Commissioners in Prepare dinner County, Illinois has authorized a program that can ship $1,000 funds to chose households battling elevated property taxes amid a “substantial improve” in tax payments in recent times.
The Prepare dinner County House owner Aid Fund’s utility course of is predicted to be launched in the summertime.
“With the intention to be eligible, households should have an revenue at or beneath one hundred pc of the Space Median Revenue for his or her respective family dimension.
Beneath these tips, for instance, a four-person family making $119,900 or much less could be eligible. Candidates should have additionally seen their property tax invoice improve by no less than 50 p.c in any 12 months for the reason that 2021 tax 12 months.”
This system, often called the Prepare dinner County House owner Aid Fund, has a complete finances of $15 million. The home-owner reduction fund, nevertheless, would reportedly value $1.4 million to run, leaving $13.6 million to be distributed.
Public hearings had been held with property homeowners starting in September of 2024, earlier than the approval of the Prepare dinner County House owner Aid Fund. In line with Commissioner Bridget Gainer, the issue of ballooning property taxes within the Illinois county is extreme.
“Property taxes are rising sooner than householders’ potential to pay, forcing individuals to go away neighborhoods they love and undermining the very best potential to construct wealth – house possession.”
The president of the Prepare dinner County Board, Toni Preckwinkle, says providing one-time funds to assist in paying property taxes is, nevertheless, a stopgap measure whereas the management pursues a long-term resolution.
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