Illinois needs a taxpayer bill of rights to urge policymakers to budget based on available revenue — or be prepared to subject tax increases to direct voter approval.
Property taxes are set to increase in Madison and St. Clair counties, and local taxpayers should know that through TIF districts, politicians divert tax dollars that could go toward schools, libraries and public services to separate accounts that foster a lack of transparency and accountability.
Though most of the top 100 property tax bills came from New York, the state with the second most entries was Illinois. The 13th highest bill in the country belonged to Exelon’s nuclear generating station in Byron, Illinois, totaling $36.5 million in 2016.
Gubernatorial hopeful Chris Kennedy is advocating for “a property tax system that can’t be abused by the wealthy and insiders.” But new documents suggest a Kennedy-led company enlisted the help of the city’s most politically connected property tax law firm to lower its bills.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.