Illinoisans are struggling under the highest property tax burdens in the country. Many of the reasons for those high taxes are known – too many local governments, executive pay for local administrators and rising pension costs. What taxpayers don’t know is that local school districts have billions in debt, which drives up property taxes even further....View Report
State Rep. Robert Martwick blamed “poorly written” ethics laws for his failure to disclose income from political consulting work.
The case against Mount Prospect, Ill., shows how tax increment financing districts siphon tax money from school districts and other taxing bodies, and diverts needed resources and puts pressure on taxpayers to make up the difference.
The $5 billion tax increase will be eaten up by this year’s pension payment.
Illinois homeowners’ property taxes are among the highest in the nation. They are consuming more and more of Illinoisans’ incomes.
Illinois loses more millennial taxpayers and dependents to other states than any state except New York; this means Illinois’ distressed housing market is losing a big contingent of first-time homebuyers.
On June 28 the Illinois House of Representatives failed to pass Senate Bill 484, an illusory property tax freeze that did not offer real reform, left Chicago homeowners out in the cold, and would have left in place an opaque and expensive property tax system that benefits special interests over taxpayers.
Senate Bill 484 would offer a freeze in name only, as it fails to address the very costs that drive up Illinois homeowners’ property tax bills.
A four-year freeze riddled with exceptions won’t help Illinois homeowners. Illinoisans need a long-term freeze on local property tax levies and a cap on the tax burden for individual homeowners.
Gov. Bruce Rauner has compromised over and over to strike a deal, to the point of abandoning every reform he once demanded. But no matter how much Rauner gave, House Speaker Mike Madigan never budged.
The budget plan proposed by Republican General Assembly members would raise taxes by over $5 billion without enacting any significant spending reforms.