Breaking News Bar
posted: 8/10/2012 5:00 AM

Please explain change in homeowner exemption

Success - Article sent! close

We all expected our property tax bills this year to go up, particularly since the assessed values bear little or no relationship to the market values of the property, but can someone explain why the homeowner exemption was so low? I know the 7 percent cap was being phased out, but why did the exemption for Elk Grove Township go from $20,000 last year to $6,000 this year? I thought it was supposed to drop from $20,000 to $16,000, then to $12,000, before bottoming out at $6,000. Am I missing something here?

Dan Newquist

Arlington Heights

Article Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.