Starting this March, thousands of eligible households in Schaumburg, Illinois will receive $150 rebates in the form of Visa gift cards.
$150 property tax rebate in rebate is going out. (Photo: Local Today)
$150 Property Tax Rebate
The program is aimed at providing economic relief to eligible residents who own and occupy their homes in the village, such as single-family homes, townhouses, and condos. However, renters and their landlords are not eligible for the program, according to a report published in The U.S. Sun.
To be eligible for the program, applicants must meet certain criteria, such as being an owner-occupied resident in Schaumburg and having a Cook County homeowner exemption. The village plans to issue the gift cards by the end of March and into April, which will take a couple of weeks to send.
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Funding of the Property Tax Rebate
The funding for the program will come from the village’s general fund surplus of $18.4 million. However, the estimated cost for the gift cards is around $2.9 million, which is a small portion of the surplus fund.
According to Mayor Tom Dailly, Visa gift cards were chosen over checks due to the risks of theft in the mail, as checks are prone to be stolen and forged.
Visa gift cards can be used anywhere other gift cards are accepted and are guaranteed to be less prone to theft. However, the cards will have an expiration date and cannot be reloaded.
Overall, the program is expected to benefit 19,500 eligible households in Schaumburg, providing them with a timely source of relief as they deal with the financial impact of the pandemic. The gift cards can be used for essential expenses or to support local businesses in the community.
