Plenty of Illinoisans will be on the road this holiday season, with record-high travel across the nation. Filling up for the trip is pricey in Illinois and will get even pricier after Jan. 1.
Despite lower assessed value, thieving property taxes are on the rise for the old McCallister residence.
Bad habits are tough to break, and Illinois lawmakers can’t ditch their habit of depending on sin taxes to raise revenue.
Tax friendliness reports ranked Illinois as the most expensive for middle-class families and second most expensive for retirees. Analysts cited high property taxes, sales taxes and income taxes as cinching the bottom spots.
More taxes on businesses and reductions in unemployment benefits were looming as a recession approached, but no longer. Lawmakers agreed to replenish Illinois’ unemployment insurance trust fund and avoid those pitfalls.
A bill in Springfield proposes delaying the Jan. 1 state gas tax hike. If it fails, drivers will see two gas tax hikes in 2023, expected to take the tax to over 45 cents a gallon.
Arlington Heights trustees unanimously approved a pre-development agreement with the Chicago Bears, but the review process could take years before they break ground on the new football stadium.
Truth in Accounting experts contested Gov. J.B. Pritzker’s claims Illinois is on the best fiscal footing in years, citing chronic underfunding of the state’s nation-leading pension debt. The watchdogs ranked Illinois’ finances third worst among U.S. states.
Illinoisans will have paid an extra $3.94 billion in property taxes during Gov. J.B. Pritzker’s term. Four years ago he campaigned on a promise of property tax relief.
Total property tax extensions are on pace to total more than $40 billion by 2026, $4 billion more than at present. Amendment 1’s expansion of government union power would likely accelerate that increase.
Statewide residential property tax extensions are on pace to total more than $24 billion by 2026, which is $2 billion more than the current total. Amendment 1’s expansion of government union power would likely accelerate that $2 billion increase.
Linda Ekendahl hoped buying property for her business would be the best move – until her $30,000 property tax bill came. Another tax hike under Amendment 1 would further damage her business.
Halloween shoppers can expect to spend 13% more on treats this October than last season, marking the largest-ever single-year jump in candy prices. Illinois’ tax system this year lets treaters save some dough by picking candy with flour.
U.S. House Ways and Means Committee members wrote Gov. J.B. Pritzker asking for repayment of a $1.3 billion federal unemployment insurance fund loan before Nov. 10. Failing to do so means automatically raising taxes on businesses.