House Bill 2789, often called the “megaprojects bill,” would allow certain large developments to freeze their property tax assessments and negotiate special agreements.
Supporters argue it creates predictability and attracts investment.
But here’s the concern: if predictable property taxes are good policy, why apply them only to megaprojects?
Cook County already struggles with frustration over property taxes. Freezing assessments for select large developments while homeowners and small businesses face increases creates a two-tier system.
If reform is needed, it should be broad and transparent, not selective.
My position is simple: if we are going to stabilize property taxes, it should apply equally. Equal rules build trust. Carve-outs erode it.
Growth should expand the tax base, not redistribute the burden.
