No Vote Taken this Session on Property Tax Bill
At the urging of BOMA/Chicago members and their building tenants, BOMA/Chicago successfully opposed Senate Bill (SB) 1379 this past legislative session. The legislation, sponsored by Cook County Assessor Fritz Kaegi, would have required commercial properties to submit income and expense data annually.
BOMA/Chicago teamed with a coalition of business groups, including the Chicagoland Chamber of Commerce, Illinois Chamber of Commerce, Taxpayer Federation of Illinois, Illinois Manufacturers Association, National Federation of Independent Business and Illinois Retail Merchants Association, to oppose the legislation. The group has cautioned legislators that they should recognize the risks of sudden changes in assessment practices likely to cause significant increases and shifts in tax burdens.
As a result of BOMA/Chicago's efforts and joint opposition by the business group coalition, no vote was taken on SB 1379 during the legislative session that ended Friday, May 31.
We thank all our members and our building tenants for playing such an important and decisive role in our advocacy efforts.