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"For some seniors, the freeze can be a lifeline. But property taxes in Cook County are a zero- sum game. Whenever anyone gets a break, the difference must be made up by all other property owners. If some property owners get tax breaks they don’t deserve, the rest of us pay."
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Audio and summary
I’m aware of a case where the family is making over $120K, but they put the title of the home in the name of the family member with smallest income, over 65.
That would be illegal and fraudulent because the cook county senior freeze exemption form specifically asks for the income of all members of the household precisely to make sure this doesn’t happen.
the suntimes is exactly right. why should a 64 yr old pay full but not a 65 yr old. It’s totally arbitrary and prone to fraud. I though rising property values is what everyone wants, isn’t it? It isn’t rising property values causing the problem. If that was the determining factor, municipal budgets would have vast surpluses. Its rising taxes that are not based on arbitrary property assessments. Besides, seniors can use the tax deferral program available to avoid being “kicked out”, whatever that means.
65 is considered the traditional retirement age and taking social security before this date incurs a penalty. That’s why it’s 65 and not 64.
So what is the SunTimes beef about this? There is no income test for property taxes? Do you want to do an annual appraisal by some politically connected hacks who will try to dig into old folks’ income tax returns? If a guys sells his business one year and retires he should be taxed more on his home? It is not a question of homeowners cheating. It is a reality that someone who owns a home for a long, long time should not be taxed out of his home–especially at an old age.
The concept may be sensible but look at that initial report by the Sun-Times:https://chicago.suntimes.com/2021/6/25/22549463/senior-freeze-homestead-exemption-tax-program-errors-fritz-kaegi-barbara-kaplan-martin-israel It’s riddled with errors and unfairness. They show the examples.
The senior freeze is a lifeline for homeowners who would otherwise be kicked out of their homes. Many of them bought their homes years ago with only $2,000 or $3,000 tax bills and now, because they neighborhood has increased in value, the taxes are upwards of $10k a year, and for seniors on social security it is budget killer. Sure there are some cheats out there who lie about it but don’t take away the entire program because some people cheat.