Authors: Pogge, Jean and Hamilton, Luann
Summary
This report presented the findings of an evaluation done by Woodstock Institute that examined how the program worked and what it accomplished. The conclusion drawn from the evaluation is that the program is cost efficient, effective, and a useful tool for both Cook County and low- and moderate-income neighborhoods. Specifically, the study found that: The program achieved the objective of returning seriously tax delinquent parcels to productive tax paying status. The Multifamily Tax Reactivation Program was extremely successful in generating savings totaling over $4 million to developers attempting to provide quality, affordable housing for low- and moderate-income people. The program was an excellent investment of public funds. Cook County realized a net gain of $622,191, a 601% return on its investment. The program was extremely effective in allowing Cook County to utilize ownership transfer as a penalty for nonpayment of property taxes. For example, in West Chicago Township, the program ownership transfer rate was 44%, as compared to an overall rate of 4.1%. The program was 89% effective as a penalty for nonpayment of property taxes since owners of 89% of the program parcels either lost title to their property or paid their delinquent taxes.
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From Obstacle to Opportunity: An Evaluation of the Multifamily Tax Reactivation Program
