Longtime homeowners | CHAP
The Chicago Homeowner Assistance Program was CRN’s first tax initiative in collaboration with County Assessor Houlihan and Chicago Housing Commissioner Julia Stasch. The program is designed to extend property tax relief to long time homeowners in neighborhoods with rapidly rising property taxes. CHAP allows homeowners whose property assessment has increased by more than 31% to secure a low interest loan ot pay that portion of their bill that exceeds the city’s average increase. Repayment is deferred until the property is sold or the title is transferred.
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