Currently, property taxes in the city of Chicago are tied to inflation rates, which means you’ve likely seen an increase in your taxes in your most recent bill. By supporting Ordinance 2498, we can stop the tie between property tax increases and inflation.
We are seeing the highest inflation in two generations. The city’s current formula could allow tax increases to quadruple to $85.5 million by 2023. If it passes, this ordinance would stop the automatic property tax increase.
This large increase will hit everyone, including homeowners, renters and businesses at a time when Chicagoans are trying to manage higher grocery and gas prices.
HOW CAN I TAKE ACTION?
We’ve made it easy for you. Click here to send a note to your alderperson and encourage them to support the ordinance.
By doing so, you are protecting our industry and your clients. Don’t wait.