Perhaps our state Sen. Don Harmon (D–Oak Park) or Oak Park Township Assessor Ali ElSaffar would care to comment with their insight on the upcoming second installment tax bills, and quickly upcoming first installment of 2010, payable 2011.
But the rumor that some commercial real estate advisors are hearing from their real estate tax attorneys is that the state equalization factor may rise by about 15 percent in Cook County — a significant tax increase. This is not being taken lightly by commercial real estate owners during the down market, and I would assume would be a major concern to residential property owners as well.
Gentlemen, since the county assessor will not release the second installment bills before the November election, is what we are hearing from the tax professionals true?
Such a move would give political cover to local taxing bodies and the assessor for not making adjustments since there is no face to point the finger at for the analysts at the state of Illinois — well perhaps maybe Gov. Quinn.
Mr. Harmon? Mr. ElSaffar? Care to comment?