Chicago’s Property Tax Rebate Program is set to expire Friday after being extended last month, although some homeowners might still need to cash in on the offer.
In July, City Council unanimously approved an estimated $21 million property tax rebate program, which is aimed at giving property tax relief to Chicagoans facing a four-year hike included in Mayor Rahm Emanuel's 2016 budget.
The program provides 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 homeowners’ city property taxes and income, is a fixed amount between $25 and $200.
However, the rebate program hasn't exactly been a runaway hit with property owners. Last month, Emanuel’s office announced that over 11,000 Chicago homeowners had applied for a rebate, although the city originally estimated that the program would aid 155,000 residents.
At the time, the average rebate amount was $109 with a total of over $1.2 million scheduled to be provided to Chicagoans, which means that roughly $19 million in rebates were still unclaimed at the end of November.
City homeowners can still apply for a rebate at any of the city’s over 20 neighborhood locations through Friday. For additional information about the program and how to apply, visit here.