Forrest Claypool, Mike Quigley and Larry Suffredin plan to introduce an ordinance at next week's board meeting to establish that fund, which could use revenue from the county's sales tax increase. Homeowners who qualify could receive up to $700 to offset the cost of tax increases.
Houlihan says it would take between $55 and $125 million to create "targeted property tax relief" to people who really need it. In addition to sales tax revenue, Houlihan suggested money from Chicago's expiring tax increment finance district be used to fund the circuit breaker program.
Mayor Daley called the idea a "political stunt," and county board President Todd Stroger said the proposal was dead in the water. But Houlihan and Claypool said this "targeted property tax relief" is the kind of thing people struggling to pay their bills and public officials should change their mind about the plan.
Dispatches from Chicago's south side.
Friday, October 31, 2008
Group to introduce fund to assist low-income homeowners
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