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...View Report
Sangamon County billed homeowners $215 million in 2017. This meant owners of a $127,000 Springfield home had a $2,600 property tax bill.
The defined-benefit pension system threatens the retirement security of government workers, as well as the pocketbooks of overburdened taxpayers.
Illinoisans shoulder some of the highest property taxes in the country. This burden is key to understanding the state's outmigration problem. Despite the failure of lawmakers to reverse this crisis, there remain a number of sound reforms waiting for consideration.
Illinois’ school district debt and unfair government union bargaining laws contribute to the state’s massive property taxes.
Village board members passed a 5 percent increase in the village’s property tax levy to make increased payments to police and fire pension funds.
Belleville aldermen approved a 12 percent increase in the city’s property tax levy.
The Chicago suburb’s decision to raise the levy will result in a 3.1 percent hike in the city’s portion of property tax bills, marking the first such increase in four years.
Seeing rising pension costs, a decline in state assistance, and a new state tax-collection fee, in 2018 the village plans to raise the property tax levy 4.9 percent and make a 1.2 percent cut to the village’s budgeted revenues, in addition to a 1.7 percent spending cut.
A 2018 budget proposal for Elgin includes a new gas tax, an increase in water and sewer rates, and other tax hikes.
As its population and tax base erode, the city of Decatur passed a budget for fiscal year 2018 more than $3 million in the red.