Village Will Determine If Money Back To Residents Is Possible
By TODD WESSELL
Journal & Topics Editor
Rosemont’s popular Property Grant Program where homeowners near the end of the year receive a check from the village---sometimes amounting to more than $4,000---is not a sure thing this year.
Mayor Brad Stephens said this week that delays in receiving property tax payments from Cook County along with a lack of business from the tax-producing Donald E. Stephens Convention Center and Allstate Arena, is jeopardizing the program for this year.
Stephens said that after the village receives its real estate tax payments from the county, which normally arrive by Oct. 1, then “We’ll see if we can give the grant money.”
The program has been in existence for about 20 years. Owners who occupy their premises are eligible to apply for the money. The equalized assessed valuation and real estate tax rates are used to determine the amount of money local residents receive usually after the arrival of the second tax installment in the fall.
Stephens added that normally, approximately $1.5 million is distributed to qualifying homeowners.