Public pensions are growing and taking a greater share of property taxes, hurting public services. Still, the average Rockford household owes over $35,000 in state and local pension debt.
Because the cost of generous government retirement packages has grown faster than existing government revenues can sustain, property taxes continue to climb.
With billions in federal COVID-19 relief earmarked for Illinois schools and local government, Gov. J.B. Pritzker pushed them to use the money to lower or freeze property taxes. He made no mention of the state’s role in pushing property taxes to the second-highest in the U.S.
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.
Of the 113 school district administrators earning six-figure salaries who oppose a bill to reduce bureaucracy, 21 are above the $200,000 mark. The bill intends to put more money into classrooms or back in taxpayers’ pockets.
House Bill 433 would make it easier for Illinois taxpayers to dissolve unnecessary units of government in the state with the nation’s highest number of government units.
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.