Politics
Logan Square Property Tax Assessment Freeze Targets Household Budget Pressures
The city ordinance limits annual increases in residential property assessments to 2 percent through fiscal year 2028, directly affecting tax bills mailed to Logan Square addresses.
How we reported this
The Logan Square city council passed an ordinance on July 7 that caps annual increases in residential property assessments at 2 percent for the next three fiscal years. The measure applies to single-family homes and multi-unit buildings with fewer than six units, covering an estimated 42,000 properties across the 35th and 36th wards.
Why the change arrives now
Local assessors completed a citywide revaluation in spring 2026 that raised median home values by 18 percent compared with the 2023 cycle. Under prior rules those gains would have translated into higher tax bills starting with the November 2026 mailing. The new cap overrides that automatic pass-through for owner-occupied and small-rental properties.
City budget documents show property taxes generated $312 million in general-fund revenue last year. Officials project the cap will reduce that total by $8.4 million in fiscal 2027, with the shortfall offset by drawing down reserves built during the prior two years.
What the cap means for daily expenses
A household whose assessed value rose from $320,000 to $378,000 will now see its taxable base limited to $326,400. At the current combined city, school and county rate of 2.18 percent, the annual tax bill stays at roughly $7,115 instead of climbing to $8,240. That difference equals about $94 per month that stays in the household budget rather than going to the tax collector.
Residents who receive the senior citizen or disabled-person exemptions will see the same percentage cap applied after their deductions, preserving the relative size of those breaks. Renters in buildings under the six-unit threshold may receive indirect relief if landlords pass along lower carrying costs, though the ordinance does not require rent reductions.
Implementation begins with the 2027 assessment notices mailed in October. Property owners can file an appeal through the county assessor’s online portal if they believe their property was misclassified. The ordinance sunsets after fiscal 2028 unless the council votes to extend it.