Mike Strick, the Republican candidate for state House in District 84, recently objected to significant increases in Cook County property taxes for the average residential or business property owner.
“This situation is untenable,” Strick said. His comment was in response to an explanation by commercial real estate broker Matthew Rasche, who has worked in the Chicago area for a decade and believes that homeowners should keep tabs on rising real estate taxes and be aware of changes.
Rasche said that through tax increases, Cook County “could significantly erode equity for many property owners,” illustrating how property owners may possess a false sense of equity given the current atmosphere surrounding Illinois’ budget crisis.
“The second installment of [Cook County] property tax bills have recently come out,” Rasche said in a column in Business Insider. “Since real estate taxes are paid in arrears, the bills being paid in 2016 are the taxes from 2015. Cook County has had serious budget issues and, along with Chicago, is running out of money and accruing bills it can’t pay.”
Strick noted that the state’s spiraling economy may be driving residents out to seek more economic stability in other jurisdictions.
“When will the people of Illinois say enough is enough?” Strick asked. “More tax and spend will not help the outward migration of residents and businesses.”
Rasche explained how an average property owner may end up with assets significantly less valuable than he or she thinks due to the way the property tax system works, noting the surprise at this year’s real estate tax increase of 10 to 12 percent — combined with Illinois’ budget crisis — has “created a perfect storm for property owners and tenants across Cook County,”
Strick said that is unfair to Cook County residents.
“The Democratic machine does not care about the hard-working citizens,” Strick said. “[We] are just a piggy bank that can be stolen from at will. We the people need a tax decrease. I will mandate a property tax freeze.”
Strick detailed his desire for school taxes to remain local, to fix the pension crisis, and to help Illinois remain business-friendly.
"I want term limits to root out corruption and help bring in new ideas to Springfield,” he said. “We need to turn around Illinois. Will you help me?”
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