In case you missed them, here are highlights of new laws affecting condominium buildings in 2017:
Chicago Residential and Commercial Recycling Ordinance
Source Separated Recycling is now mandated
PLUS: What can and cannot be recycled
IRS Extends Due Date for 2016 Condominium Association Tax Returns
Condominium Associations have an extra month to file their income tax returns
Electronic Notice and Voting in Condominium Associations
Associations are allowed to adopt electronic notice and electronic voting
The Snow Removal Service Liability Limitation Act
The act limits liability provisions in snow and ice removal contracts
More Freedom for Board to Discuss Business Outside of Meetings
Instances are outlined in which a board is allowed to close a noticed meeting or meet separately from a noticed meeting
New Water and Sewer Tax
The tax will start at 7% of the water and sewer bill
New Definition of 'Acceptable Technological Means'
Means are now described as any generally available technology that is deemed to provide security, reliability, identification and verifiability, by the association
Condo Boards Get Exclusive Vote on Loans
Boards are no longer required to hold an owner vote to approve a loan
Enforcement of Short Term Rental Restrictions
Property owners wishing to rent on a short term basis will need to apply for and obtain certain licenses
Here are some tips to keep your next meeting short and sweet!
The first installment 2016 property tax bills have been released by the Cook County Treasurer. The due date is March 1, 2017. This is an estimated tax bill in which the amount due will be 55% of the previous year’s total tax. If you have a 2016 pending appeal, this bill must still be paid. Any change in the 2016 tax bill will be reflected in the second installment which will be issued in the fall. If you have a new Property Tax Index Number (PIN) for the 2016 tax year, your first installment will be zero because no prior year’s bill was issued for this PIN. In this case, the entire tax bill for the 2016 tax year will be reflected and due on the second installment tax bill.
An update has been made to the Chicago Residential and Commercial Recycling Ordinance. Beginning January 1, 2017, the ordinance mandates source separated recycling as the required collection method. If inspected, locations will have 30 days to come in compliance before being issued a ticket. The updated penalty for non-compliance for first-time offenders is $500-1,000, second offense is $1000-2,500 and third or more offenses is $2500-5,000.
If your condominium building does not already have recycling services in place, it's time to contact your waste removal provider to add this required service.