HYDE PARK — A plan to levy an extra property tax in the area around 53rd Street and Lake Park Avenue could move forward if the 53rd Street TIF Advisory Council votes in favor of it in the coming days.
The special service area could legally levy a tax of up to 1.5 percent on property owners, but Burns' proposal would add a tax of only .625 percent on properties in the proposed service area.
“We’re hoping to lessen the burden of the tax,” said Wendy Walker Williams, director of the South East Chicago Commission and who is helping plan the proposed tax district for the alderman’s office.
Public meetings are tentatively scheduled for May 22 and May 30 to discuss the proposal.
The special taxing district tentatively would cover properties on Lake Park between 55th Street and Hyde Park Boulevard, and properties on 53rd from Lake Park to Woodlawn Avenue. Of the approximately 100 properties in the area, none are private homes and fewer than five are residential properties.
“We worked very hard to make sure we didn’t include residential buildings,” said George Rumsey, who is on the alderman’s committee planning the area.
The boundaries roughly match the 53rd Street TIF, which has first dibs on any new property tax revenue generated within its boundaries. If the special service area is created, the TIF district advisory council would have to vote to release that extra tax money for use in the area.
The council did not have enough members present at its Monday meeting to vote on the matter, but is expected to take up the issue in the coming days.
Burns' committee is conducting a survey of what property owners think about the proposed special taxing district and what services they would like to see offered.
The survey is available online at www.surveymonkey.com/s/hydeparkssa.