 |
|||||||||||||
|
|||||||||||||
|
|
|
|
|
 |
||||
|
The Property Tax Appeal Board (PTAB) is a state level board that was created to resolve disparities in property tax assessments. Since PTAB authority was extended to Cook County in 1996, many school districts and other local governments in Cook County have experienced a loss in property tax revenues. Commercial and business property owners are requesting reductions in record numbers and often receive larger reductions or rebates than requested. This trend is expected to increase every year and create growing shortfalls for our local taxing bodies such as school districts, libraries, county entities and others. In addition, school districts receive the notice of reduction one or more years after the assessment levy that decides how much to tax each property tax payer, thus eliminating the county clerk from re-distributing the effects of the appeal across the other taxpayers. Refunds for prior years must be paid out of current budgets with no recourse to capture the lost moneys thus creating a shortfall for the current year. School districts are dealing with major cuts because of these refunds that cover assessment complaints that can be several years old and run into multi-million dollar losses. While property owners have every right to question whether their property is correctly assessed, schools and other taxing bodies should not have to deal with a reduction in needed revenues after staff is hired and programs are begun. Since these taxing entities have legally levied for their well defined needs, a plan must be put in place to “make them whole”. Charles Thier, Legislative Director, SCOPE |
||||
 |
||||
|
|
|
|
|
[Home] [Mission Statement] [DAY FOR CHILDREN] [Members] [One Proposal] [Fund Erosion Causes] [Compare Plans] [Doomsday] [Fiscal Reform] [Links] [ISNS CA Options] [In the News] [Student Rally] [HB750 Support Form] |
|||
|
Copyright © 2003 by Better Funding for Better Schools Coalition |
|||