According to a Sun Times article published on February 1, the new ward boundaries will not take effect until the 2015 election. 

There has been much confusion since the January 29th vote on the new ward maps about when the new boundaries would go into effect.  After initial speculation that the boundaries would take effect after the March 20th ward committeemen elections, it appears that the change is still a few years away.  

The Cook County Treasurer has mailed the 1st installment 2011 property tax bills with a due date of March 1, 2012. 

The 1st installment tax bill is an estimated tax bill.  The amount due will be 55% of the prior year's total tax.  Any change in the 2011 tax bill (due to changes in exemptions, assessment value,  tax rate or equalization factor) will be reflected on the 2nd installment bill issued in the fall.

If you are a new owner and do not receive your bill, you may need to update your mailing address.

The IL Condo Act requires the board to deliver a detailed annual accounting to each owner of all income received and expenses paid, showing the net excess or deficit of income over expenditures plus reserves.  HausFS is now finding that many bylaws also state that if there is a deficit, owners should be charged and if there is an excess, owners should be credited.  

This allows the association to collect all of the funds needed to meet the budget and contribute to reserves as planned.  On the flip side, if the total assessments budgeted were more than enough to cover all operating expenses and add to reserves, the extra is returned to the owners.

You should review your association's bylaws to determine when the annual accounting is due to owners, and whether or not charges or credits may be due.

On Thursday, January 19th 2012, Chicago's City Council voted on a new ward map that redraws the city's ward boundaries.  You can use this interactive map to see how Chicago's wards will be changing.
The original 2012 City of Chicago budget proposal called for a complete elimination of the condo refuse rebate. Per the approved budget, the 2012 rebate will be reduced from $75/unit to $50/unit. For three years after that (2013-2015), the rebate will be reduced to $25/unit.  In 2016, it will be phased out.

Small associations, if they have not applied in the past, should submit their refuse rebate paperwork to take advantage of the program before it disappears.  Filing information can be found on the Chicago City Council's Committee on Finance website.

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