Citing the impact of mortgage fraud and a downturn in the housing market, Mayor Richard Daley said Wednesday his administration will give a helping hand to homeowners who believe their property-tax assessments are too high.No word yet on why Mayor Daley didn't recommend the law firm of Klafter and Burke on this one.Not only has Alderman Burke done work for Tony Rezko but this impressive list of corporations:
Daley has persuaded Cook County's Board of Review for the first time in its history to reopen the appeals process for a special two-week period later this month, even though the regular filing deadlines have passed.
The city has provided the board with data, gleaned by the Chicago Association of Realtors and based on real-time sales, to indicate which neighborhoods have seen values head south. And City Hall will assist owners of houses and small apartment buildings in those areas to bolster their cases with more specific sales data if it appears they have a chance of winning assessment reductions, officials said.
The proof of success or failure of the effort ultimately will come in the fall when the second installment of property tax bills is due. Lowered assessments would mean a reduced bite.
That would allow Daley to redeem himself with at least some of his constituents who are smarting after he pushed through an $86 million property-tax increase for this year, the biggest since he became mayor in 1989.
It was unclear how many homeowners would seek to take advantage of the offer, or what the impact will be. But because the tax levy won't change, any reduction in some people's bills will mean other property owners will have to make up the difference.
The special appeal period is March 17 to March 31. Commercial and industrial property owners also can appeal, and so can suburban homeowners, but they will have to present their own proof for an assessment reduction.
Ald. Edward M. Burke is chairman of the Chicago City Council’s powerful Finance Committee. He also runs a small law firm, Klafter & Burke, that specializes in appeals of property assessments. Burke gets a cut of what clients save in lowered property taxes. Burke reported having 37 law clients that did business with the city last year. Each paid him at least $5,000.
1. ABN Services Co./LaSalle Bank
2. Admiral Heating & Ventilating
3. American Airlines
4. American Trans Air Inc.
5. Ameritech
6. AT&T Communications
7. Blue Cross Blue Shield
8. CenterPoint Properties
9. Centrum Properties
10. Chicago Community Development
11. Cole Taylor Bank
12. Commonwealth Edison
13. Davis Group, LLC
14. Dominick’s
15. Fifth Third Bank
16. Fitzsimmons Surgical
17. Friedman Properties Ltd.
18. Greater Southwest Development Corp.
19. The Habitat Company
20. Harris Bank
21. Holsten Development
22. K-Five Construction Corp.
23. MB Real Estate
24. Northern Trust Company
25. Northwestern Memorial Hospital
26. Palumbo Bros. Inc.
27. Pittsfield Building
28. Prairie Material Sales
29. Senior Lifestyle Corp.
30. Southwest Airlines
31. Teng & Associates Inc.
32. The Standard Companies
33. TMobile
34. U.S. Equities Realty Inc.
35. Union League Club of Chicago
36. WBEZ Alliance
37. Wicklander Printing Corp.
Some people make money off of high taxes.
