CHICAGO, IL — Cook County Commissioner Tony Peraica held a press conference this morning to discuss what he perceives as gross inequity in the county's property tax assessment system.
Peraica also released a "White Paper" on the unfair tax burden distribution, which be viewed online by clicking here.
"While Cook County follows Illinois in basing real property taxation on Market Value, such value for Commercial/Industrial property can often be inconsistently estimated (assessed) and taxes inconsistently administered," Peraica observes.
The result, says Peraica, is that some commercial property owners get off lightly, shifting their tax burden onto the shoulders of other commercial property owners and the shoulders of residential homeowners.
The inconsistencies in the current system developed over the course of many years, Peraica notes, and most represent efforts to compensate for inequities rather than create them. Those who benefit from the inconsistencies have a vested interest in preserving them, however, and are likely to resist efforts to create a more equitable and transparent system of assessment.
"Over time, adjustments and modifications in rates assessment levels between types of properties create a structure so illogical that the public is prevented from understanding it," Peraica explains. "This confusion is a disservice to the taxpayer, precludes informed and effective public pressure for improvement, and enables professional Tax Representatives to 'work the system' unimpeded."
Peraica says it's time to take favoritism out of the Cook County assessment system and distribute the burden of property taxes fairly.
