Evidence from Connecticut suggests the progressive income tax could cost Illinois homeowners substantial equity in their homes.View Report
Lightfoot’s budget depends on borrowing and property tax hikes.
Property taxes are on the ballot in Madison, Winnebago and Champaign counties.
Cook County property taxes have grown at triple the rate of the cost of living. The “fair tax” backers promise it will bring property tax relief, but the evidence refutes their claim.
Every state without an income tax has lower property taxes than Illinois. The progressive tax amendment includes no property tax reforms, so there’s no guarantee property taxes won’t rise as income taxes rise.
A typical Chicago homeowner faces up to $255 in potential property tax increases to cover city and school deficits. City income taxes could be next, if the ‘fair tax’ were to pass.
Gov. J.B. Pritzker calls his $3.7 billion income tax hike a “fair tax.” But opponents have criticized the constitutional amendment as a blank check for House Speaker Mike Madigan and other state lawmakers, courtesy of Illinois taxpayers.
Pritzker infamously removed toilets from his Gold Coast mansion in what the Cook County inspector general called a “scheme to defraud” taxpayers.
Chicago leaders have been unable to finish developing valuable land after 23 years and $331 million in taxes, but convinced state leaders more time and money were needed.
Up to 130,000 Illinois homeowners could fall behind on their mortgage payments if state lawmakers fail to provide relief.
The contractor who removed toilets from Illinois Gov. J.B. Pritzker’s mansion in a $331,000 property tax scandal received a nearly $9 million COVID-19 contract from the U.S. Army Corps of Engineers. The contractor hadn’t worked with the Corps in 76 years.