TRAEN, Inc.
Welcome to the Training, Research, Advocacy, and Education Network, Inc. (TRAEN, Inc.):
an Illinois-based think tank dedicated to educating and engaging the public
in programs and policies benefitting taxpayers and businesses.
2021 Property Tax Breaks Study: Recently Updated!
In light of a recent article published by the Chicago Tribune, we've updated one of our studies!
TRAEN, Inc. examined two of Cook County’s income-based property tax exemptions—the Long-Time Homeowner Exemption and the Senior Freeze Exemption—to uncover misuses that warrant annual audits and the issuance of Erroneous Exemption Notices. Click to learn more!
This study examines Assessor Fritz Kaegi’s claim that he has shifted some of the tax burden from individual homeowners and small businesses to larger corporations. Changes to the Land Assessed Value of a property are not necessarily identical or proportionate to the changes made to the Building Assessed Value. Increases to the LAV can lock in permanent tax increases for taxpayers.
-999- parcels are plots of land throughout Cook County created during the digitization of property tax maps for unclassified or unidentified land. These parcels were meant to be temporary; the Assessor was to go back and reexamine them to determine how they would be classified for taxation purposes. This reexamination never happened. TRAEN Inc. conducted a study to determine the amount of lost tax revenue. It concluded that overlooking one such plot resulted in approximately $2,206,446 in unpaid taxes.
In ideal circumstances, reassessment is a uniform process for properties in the same neighborhood and of the same property type. What we have found as part of our ongoing research is that there are notable cases in which the Assessor appears to have grossly devalued properties as part of the reassessment cycle. The two oddities we have found are a series of townhomes including 1849 S Prairie Avenue and the condo units at 545 W Aldine Avenue, both located in Chicago.
Made changes to the Assessor's Notice requirements, time limits for back taxing, extension of mailing of omitted assessment tax bills, all added appeal options/requirements.
PA 96-1533
Required the Assessor to remove homestead exemptions following a sale transfer if exemptions are not applied for or the property ceases to qualify for exemption.
PA 99-164
Made changes to the Special Service Areas (SSA) property tax notice and hearing requirements inclusion of the tax levy and hearing dates.
PA 97-1053
Provided for notification to the Assessor when residential property is not occupied by its owner on January 1st of the tax year, precludes an exemption applied after notification from being considered erroneous with penalties and interest.
PA 97-851
Required omitted assessment tax bills to be mailed at the same time as the 1st installment tax bills with payment due by the 2nd installment due date.
PA 93-560
TRAEN successfully advocates for reforms to increase tax accuracy and fairness, raise awareness through studies on property tax exemptions, assessment disparities caused by foreclosures or property characteristics errors, and highlights taxation policies that affect governmental bodies, homeowners and businesses.