Did you know that since the start of Mayor Emanuel’s second term, the City Council has supported nearly $93 million in property tax breaks for 60 development projects across the city? We didn’t either, until we dug through all our own data earlier this month. We found out that the county’s property tax incentive program, managed by Cook County Assessor (and Democratic Party Chair) Joe Berrios, is opaque. While the city and county say lower assessments for businesses help retain construction and industrial jobs, it’s appears no one is checking up on those promises.
Why should you care? For every dollar in tax breaks awarded, someone else has to pay. If you’re a property owner, that includes you.
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