Latest news with #MariaPappas
Axios
09-05-2025
- Entertainment
- Axios
County Treasurer Pappas makes big announcement
Cook County Treasurer Maria Pappas made a big announcement at our Hideout show Thursday night. Why it matters: Pappas is widely rumored to be planning a mayoral run and told WGN last week she thinks "the city needs a grey-haired grandmother." The latest: The 75-year-old curator of Chicago's best free Christmas tree show, a prize-winning baton twirler and star of the county's most prized calendar, tells Axios she is now… a professional senior model. What she's saying: "I went on the internet and was fascinated by Elon Musk's [model] mother and I'm like, 'Really? I look better than her,'" Pappas tells Axios. "So I got all dressed up, took a copy of my calendar and a bunch of photos from Victor Skrebneski's studio where I'm lying on a couch in phony fur jackets to Lily's Talent Agency and I signed up." What's next: Pappas also announced the fall release of her biography, a new report from her office on tax increment financing and a video series documenting her visits to cultural institutions like the Balzekas Museum, Saturday Polish school classes and the Mongolian consulate.
Chicago Tribune
09-05-2025
- Business
- Chicago Tribune
George Cardenas: Property tax burden has shifted to homeowners, but businesses are still in distress
The recent report issued by Treasurer Maria Pappas presents just one part of the property tax assessment system in Cook County — the appeals process. While raising important points about regressivity, the report makes brief mention of the broader context, but for the rising property tax bills, that is where the focus needs to be. To begin with, the assertion that nearly $2 billion in property taxes has shifted from businesses to homeowners through the appeals process neglects the significant economic distress currently affecting commercial properties. The COVID-19 pandemic dramatically devastated the valuation of commercial properties nationwide, particularly in downtown Chicago, resulting in unprecedented vacancies, reduced rental income and a general economic downturn for businesses. As anyone can see, downtown Chicago has dramatically changed during the last four years. There are fewer places to eat, many retail shops on Michigan Avenue and the Loop have closed, and workers have not fully returned. All the above absolutely had an impact on market valuation. As a point of fact, according to the Cook County assessor's office in January 2021: 'The adjustment process (the COVID-19 factor) for the City of Chicago started with an understanding of where current market values stand relative to recent sales. In a sales ratio study of 2018 estimated market values conducted by the International Association of Assessing Officers, many commercial properties were already under assessed when compared to 2018 market sales and therefore further decreases to reflect the effects of COVID-19 were not needed.' Thus, even though commercial properties in Chicago were dramatically impacted by COVID, the assessor's office provided little relief through the COVID factor. Decisions by the assessor's office, such as the ill-designed COVID-19 factor, necessitated careful consideration of the real value of property by the Board of Review. Upon appeal to the Board of Review in 2021, the resulting decreases from the assessor's office increases were justified to reflect actual market conditions. Moreover, the focus of discussion needs to be the other major contributors to property tax increases: the significant growth in property tax levies from various taxing bodies, most notably Chicago Public Schools. According to the Cook County clerk, CPS alone increased its property tax levy from 2014 to 2023 from $2.4 billion to $3.8 billion, respectively. By focusing on appeals, are we missing the primary drivers of property tax increases? Additionally, the disparities in appeal rates among neighborhoods highlighted by the treasurer's report largely stem from inequities in information access and education regarding the appeals process, rather than just the appeals mechanism itself. The Board of Review actively promotes homeowner education and conducts numerous outreach efforts, particularly aimed at underserved communities. Last year, the Cook County Board of Review's 1st District hosted 50 town halls, where the board accepted approximately 7,400 appeals. Pappas' office, as the issuer of tax bills, can assist in this essential role in addressing these disparities by proactively notifying homeowners of appeal opportunities in multiple languages already available through Cook County. The Cook County Board president commissioned a thorough study by Josh Myers Valuation Solutions, titled 'Analysis of Commercial Valuation Practice in the Cook County Property Tax System,' published in December. This comprehensive report recommended improvements including standardizing valuation methodologies, improving data sharing between the assessor and the Board of Review, and enhancing overall assessment accuracy and uniformity. These solutions directly address the core issues within our property tax system, unlike the treasurer's focus solely on appeals outcomes. Lastly, the report raises valid concerns about the regressive nature of the property tax system but offers no practical or comprehensive solutions. The Cook County Board of Review has consistently advocated for reforms to improve initial assessments and ensure equitable outcomes for all taxpayers. Real and lasting change will require collaboration across all county offices, including the treasurer's office, to enhance transparency, fairness and equity in the assessment and appeals processes. We invite Pappas and all relevant stakeholders to partner constructively with the Board of Review in developing and implementing comprehensive reforms that address the root causes of property tax regression and promote fairness for all Cook County residents.
CBS News
05-05-2025
- Business
- CBS News
Nearly $2 billion in Cook County property taxes shifted from businesses to low-income homeowners, study finds
A study from the Cook County Treasurer's Office found nearly $2 billion in property taxes shifted from county businesses to the lowest income homeowners over just three years. The study found property tax assessment appeals submitted by businesses in Cook County caused their collective tax bill to drop by $3.3 billion, while residential tax bills went up $1.9 billion. The study also found the additional tax burden on homeowners fell mainly on low-income Black and Latin homeowners who make less than $50,000 a year, who contested their assessed values at a much lower rate than wealthier white homeowners. Cook County Treasurer Maria Pappas said she has found that most homeowners are overwhelmed by the daily tasks in their lives and so taking actions like appealing your property assessment or taxes are simply not on their radar. Pappas' office said the study suggests current efforts by the Assessor's Office and the Board of Review to standardize their methodology and share date could lead to fewer and smaller small business assessment reductions which could, in turn, reduce the shifts in the tax burden onto low-income homeowners. Her office also suggests outreach to low-income homeowners so they have the knowledge and tools to appeal their assessments.
Yahoo
26-03-2025
- Politics
- Yahoo
White, wealthy Cook County residents more likely to vote on tax proposals: analysis
The Brief Cook County voters in wealthy and majority-white areas are more likely to turn out and vote on ballot referenda asking for tax increases, according to a new analysis. The Cook County Treasurer's Office examined data from the 2024 primary and general elections for the analysis. The findings show just how few voters can decide on tax increases across the county, the treasurer's office said. COOK CO., Ill. - Cook County residents who are white, wealthy and who own their homes are more likely to vote and determine the outcome of ballot questions that raise taxes, according to a new analysis. The Cook County Treasurer's Office released the findings of its analysis this month to show just how few voters decide whether to raise new taxes on residents and increase government debt. Cook County Treasurer Maria Pappas used the findings to urge residents to turn out and vote during the upcoming local election next Tuesday, April 1. By the numbers Pappas' office analyzed 35 referenda on the ballot last year. It found that wealthier residents were more likely to vote in those elections. In Cook County's wealthiest taxing districts, the average turnout was 60%, compared to only 34% in districts where the median household income fell below the county median of $81,797. The analysis found that white residents were also more likely to vote. On average, turnout in majority-white districts was more than 20 percentage points higher than in majority Black, Latino, and majority-minority districts. People who own their homes were also more likely to vote. In taxing districts where 80% or more of residents own their home, the average turnout was more than 55%. In districts where more than 20% of residents rent, the average turnout was just 30%. "Rising property taxes always anger property owners. Despite that, most don't vote in referendums that determine whether their taxes go up or down," Pappas said in a statement. Another way in which overall voter participation decreases is what the analysis called "drop-off" voters, or when a voter doesn't fill out the referendum questions that tend to be listed further down the ballot. In Cook County, the median drop-off rate for the primary and general elections was about 6.2%, according to the treasurer's office. Why you should care The release of the findings comes just days before another local election is set to take place next Tuesday, April 1. Tuesday's election will feature multiple taxing ballot questions as well. Local consolidated elections during off years tend to have lower turnout rates, Pappas' office pointed out. "If the Treasurer's findings are any guide, little will have changed and only a few will still decide for the many," the analysis said. Early voting is already open for Tuesday's election. Visit the Cook County Clerk's Office for more information. Dig deeper In a summary of the results, the treasurer's office highlighted two examples to illustrate its findings, one referendum in a low-income south suburb and another in a high-income suburb in the North Shore. The Robbins Park District asked voters last March to approve a tax increase. The district is in an area where the median household income is about $38,000 and less than 73% of residents own their home. While the tax increase was rejected, only 14% of registered voters weighed in, one of the lowest turnouts in the primary election, according to the analysis. By comparison, in Kenilworth, a majority white North Shore suburb where the median household income is above $250,000 and more than 97% of residents own their homes, voters were asked to approve a $2.5 million bond issuance. The turnout rate was 33% for the March primary, more than twice the turnout rate in Robbins. You can read the full analysis on the Cook County Treasurer's Office website.
Associated Press
28-02-2025
- Business
- Associated Press
Pappas urges property owners to pay First Installment tax bills by Tuesday, March 4 due date
CHICAGO, Feb. 28, 2025 /PRNewswire/ -- First Installment Tax Year 2024 property taxes are due Tuesday, March 4, Cook County Treasurer Maria Pappas reminded taxpayers today. The Treasurer's Office posted nearly 1.8 million bills online at in early December and mailed printed bills to taxpayers in late January. The Treasurer's Office accepts partial payments from those unable to pay the full amount. After March 4, any balance due is charged 0.75% per month, as required by state law. Illinois lawmakers in 2023 approved reforms championed by Pappas that reduced the interest rate penalty from 1.5% to 0.75% per month, or from 18% to 9% annually. To make a payment or download a copy of your tax bill, visit Select the blue box labeled 'Pay Online for Free' Search by property address or enter your Property Index Number Follow the steps as directed; you will need to know your account number and your bank's routing number. You can also use the website to: Search for $122 million in available refunds; Check to see if you are missing out on $33 million in tax exemptions, which can lower the tax bill; Read the Pappas Studies, a series of research projects that includes a 20-year history of Cook County property taxes. Also, the office offers a free Payment Plan Calculator to property owners who are late paying their taxes for the second installment due later this year. The Calculator enables taxpayers who've fallen behind to budget their property tax expenses through monthly or twice monthly payments. A short video tutorial is available walking taxpayers through the steps of using the Payment Plan Calculator in English, Spanish or Polish.
