Statewide commercial property tax extensions are on pace to total $11.3 billion by 2026. Amendment 1’s expansion of government union power would likely accelerate that $1.8 billion increase.
Illinois will contribute $450 million to the Unemployment Insurance Trust Fund. With $1.4 billion in debt remaining, Illinois businesses are on the hook if lawmakers don’t meet the Nov. 10 deadline.
The Arlington Heights Board voted unanimously to reject a citizen proposal to stop them from subsidizing the $5 billion Bears stadium development with taxpayer funds. Petition sponsors said they will pursue a ballot question.
DuPage County consolidated seven taxing bodies to streamline government. The move will save $100 million for taxpayers over two decades.
Both forest preserve leaders and government unions are asking Cook County voters for more property taxes on Nov. 8.
Chicago Mayor Lori Lightfoot unveiled her 2023 budget proposal and deleted a $42.7 million property tax hike originally tied to inflation.
“I hope the property taxes don’t push me out into that level where I’m going to have to move because moving a business is also expensive. I’m hopeful it will work out, but I might have to be creative.”
The Springfield City Council voted to add an advisory referendum to the April ballot asking voters whether to eliminate the local township and let the city handle its duties.
Happy holidays, Cook County homeowners. The second installment of your property tax bills will arrive around Thanksgiving. They won’t be due until after Christmas but before New Year’s.
An underused airport near Belleville, Illinois, has required local taxpayers to chip in $124.5 million since 2002 to keep it operating.
Gov. J.B. Pritzker stressed the importance of homeownership in Illinois. Under his administration, homeowners have seen their property taxes grow by $2,288.
Decades-high inflation means local governments can easily raise Illinoisans’ property taxes by 5% during the next year. That makes it an especially bad time to compound the property tax hike with Amendment 1.
The Cook County Board voted unanimously to repeal the sticker mandate on drivers living in unincorporated Cook County starting in 2023. Drivers will save at least $80 a year.
See how much more you can expect to pay in property taxes if the first question atop Illinois’ ballot passes Nov. 8.