Mayor Rahm Emanuel announced Monday that the City of Chicago would extend the application deadline for the Property Tax Rebate Program until the end of the year.
“By extending the application deadline, we are ensuring that even more eligible working- and middle-class families are able to apply for a rebate in time for the holiday season,” Emanuel said in a statement. “This City-funded property tax rebate program is an important program for the City and provides hardworking homeowners some property tax relief.”
A four-year property tax hike was included in Emanuel’s 2016 budget. The proposed $588 million increase will be used to fund pension payments for police and firefighters.
In July, City Council unanimously approved an estimated $21 million property tax rebate program. The program will provide homeowners with a household adjusted gross income of $75,000 or less with a rebate to help offset their property tax increases. The rebate, which is determined using the increase in the homeowner’s city property taxes and income, is a fixed amount between $25 and $200.
Since the Property Tax Rebate Program’s launch in October, more than 11,000 Chicagoans have applied for their rebate. The average rebate amount is $109 with a total of over $1.2 million already scheduled to be provided to homeowners.
Chicago homeowners can apply for a rebate at any of the city’s 20 neighborhood locations. For additional information about the program, click here.