Cook County, IL-(ENEWSPF)- Cook County Board President Toni Preckwinkle has some good news about taxes. Residents living in unincorporated Cook County now have one less tax to pay. The Cook County Wheel Tax repeal went into effect starting July 1. Cook County Commissioner Kevin Morrison sponsored the matter. The County Board voted unanimously to repeal the tax during its September 2022 board meeting.
“We’re proud to alleviate any financial burden imposed by the Wheel Tax and ensure that taxpayers are able to keep more of their hard-earned money,” said Cook County Board President Toni Preckwinkle. “We are immensely proud of the hard work and fiscal stewardship that made this possible. I am thankful for Commissioner Morrison’s leadership on this initiative and our Board of Commissioners for voting to eliminate this tax.”
Product of the ’70s
This tax began in the early 1970s. It required a Cook County Vehicle License costing between $80 and $200 for all motor vehicles owned and operated by residents of unincorporated Cook County.
“I am proud of our work to do away with the Wheel Tax and provide some much-needed relief to County residents,” said Commissioner Kevin Morrison. “Beginning in July, the people of Cook County will now no longer have to deal with this regressive and burdensome tax. This is good policy and a good way to start the month.”
The Cook County Bureau of Finance estimates that around 8,000 staff hours to administer the tax go to other services. Savings on administrative costs and new County revenues will partially offset revenue lost. Revenues from the Wheel Tax constitute less than half of a percent of the $8.7 billion budget. The lost revenue from eliminating this tax is negligible compared to individual families’ cost savings.
The ordinance repealing the Wheel Tax was effective starting June 30, 2023.
This is news from the Cook County Board.