COOK COUNTY - Property taxes in Cook County are once again drawing attention, this time with a proposed fix aimed at closing a loophole that critics say has unfairly shifted the tax burden onto homeowners.
What we know:
The property tax issue may disproportionately impact lower-income neighborhoods.
Commissioner Sean Morrison is leading new legislation that could bring major financial changes.
For years, thousands of properties in Cook County have been taxed at the residential rate of 10% despite being classified as commercial properties. The result: homeowners have been left to cover the difference.
Morrison said the misclassification, known as the "212 Loophole," has cost residential taxpayers hundreds of millions of dollars.
His amendment is now in committee and drawing attentio