A bill to eliminate some of Illinois’ 1,400 townships is on hold, but state lawmakers could revive it and give voters the power to reduce their property tax bills.

Illinois again ranked second for highest property tax rates in the nation in 2021, behind only New Jersey. Illinois homeowners average $4,942 in property taxes on the U.S. median valued home of $217,500 – exactly double the national average. That’s a tax each year of 2.27% of the house value, according to the 2021 state...

Cook County’s first property tax payments are due March 2. In Chicago, property taxes have grown more than 3 times faster than inflation for 20 years.

The nation’s second-highest property taxes could come down if Illinois cut school bureaucracy and reformed public pensions. Until they do, fixing the housing stock is a tough sell.

Illinois homeowners pay double the national average on their property tax bills.

Chicago Mayor Lori Lightfoot is trying to raise revenue to close large revenue gaps partially brought on by the COVID-19 pandemic.

Lightfoot’s budget depends on borrowing and property tax hikes.