If an Illinois worker takes a pay cut during a recession, she knows the state isn’t going to take an even bigger chunk out of her paycheck. That’s because the state income tax rate stays the same. But if her home loses value, too, she could still see her property tax bill go up. Government...
Residents of DuPage County pay some of the highest property taxes in the state - and the country. As taxpayers feel the pinch, compensation remains generous for many local officials - some have even enjoyed a boost.
A new study shows 13 percent of Chicago-area homeowners with mortgages owed at least 25 percent more than their homes were worth.
A proposal to tie state spending to what taxpayers can afford is earning bipartisan support in Springfield.
Mandating more reasonable spending growth is the first step in a journey back to solvency for Illinois. The cap provides certainty today for a more responsible state government tomorrow.
Even after a 32 percent income tax hike, the Illinois General Assembly passed a state budget in 2017 that will generate an estimated $1.5 billion deficit in fiscal year 2018. That deficit is projected to grow to $2.15 billion in fiscal year 2019, according to the Governor’s Office of Management and Budget, or GOMB. The...
Spending has consistently outpaced state tax revenues in Illinois for more than a decade. To avoid future tax hikes, Illinois must impose real fiscal discipline on state lawmakers.
A number of state and local lawmakers in Illinois practice property tax appeals litigation. But a pair of bills recently filed in the General Assembly would end their ability to benefit at the expense of taxpayers.
Compared with the nation, Illinois has been a laggard in terms of housing appreciation.
DuPage County billed property tax payers $2.74 billion for 2016; this meant owners of a median-valued home in Naperville worth $388,000 had a $9,000 property tax bill.
A new bill introduced in the General Assembly would prohibit local lawmakers from passing tax hikes without voters' permission.
Growth in state spending per capita outpaced per capita personal income growth by nearly 40 percent in Jackson County.
The Office of the City Clerk announced that the change in prices for annual vehicle stickers would follow Consumer Price Index changes.
Delivered on Jan. 31, 2018.