Most people don’t know the difference between a million and a billion, and nobody exploits that ignorance more shamelessly than some of our politicians.
It’s on full display with the Cook County’s $15 million “relief fund” for homeowner grants to counter oppressive property taxes. The trouble is, Cook County residential owners pay over $11 billion in property taxes every year.
That means the fund provides relief for just one-one hundredth of one percent of residential taxes paid in the county. Thanks for nothing.
To have a chance for the one-time, $1,000 grants, homeowners must have a household income at or below 100% of the area median income for the applicant’s household size. A family of four, for example, would have to earn less than $120,000 a year. Applicants must also have a tax bill that increased at least 50% in any year since 2021.
But that only qualifies homeowners to enter a lottery for a grant. The county claims that about 112,000 households will qualify for the grant, but there will be enough money for only about one in eight of them, to be chosen through the lottery. The remaining $1,400,000 will be paid to a company the county hired to run the lottery and rest of the program.
In short, no matter how you skin it, the relief fund is a pittance compared to the soaring tax bills county residents face.
Most every media outlet in the county reported on the program with little criticism, usually including quotes from county officials boasting about the fund.“It is vital that we provide relief to homeowners throughout the County who are experiencing hardship due to their property tax bills increasing,” said Cook County Board President Toni Preckwinkle in her press release, which was widely quoted.
Is relief for homeowners “vital,” as Preckwinkle said? Are homeowners facing “hardship” from increasing tax bills? Yes, absolutely. Almost a quarter of a million Cook County homeowners have recently seen their property tax bills spike by 25% or more in a single year, according to a report this month from the Cook County Assessor.
But did Preckwinkle and her board actually do something about it? Absolutely not. They ran a scam.
By the way, a million seconds is about 11.5 days. A billion seconds is about 31.5 years.
-Mark Glennon
Audio and summary 
If this bill passes, say goodbye to local control over all Illinois parks and expect to see open drug and alcohol use, needles, no sanitation and fire hazards, but no ordinary park users.
I bet Mayor BJ qualified!!
Hmm……I wonder if a Bomanville retiree could qualify for this lottery ticket?
“the fund provides relief for just one-one hundredth of one percent of residential taxes”. Traditional mathematics indicates $15 million/ $11 billion = .00136 or more than one tenth of one percent. Or,after subtracting the fee of $1.4 million, $13.6 million/$11 billion = .001236, still more than one-tenth of one percent.
Wow, that changes everything.
I think it’s important for a serious site such as Wirepoints to be accurate. Perhaps you think otherwise.
In accounting, we have the concept of materiality. Financial statements are accurate in all material respects. Accounting recognizes that there may be small errors, but the errors do not have a real impact. Even accountants understand that no one is perfect.
Congrats to the company being paid about 10% of that $15 million to administer the lottery for the grants. That’s who is benefitting here. Insane to use property tax dollars to subsidize………. property taxes.
But “let them eat cake” progressive Tony’s fighting for her CC “stepin fetchit” working class residence Illinois style……enjoy your EQUITY!!