While J.B. Pritzker has not released a detailed tax plan of his own, reasonable cost estimates suggest the tax hike required to pay for the candidate’s spending promises would require doubling Illinois’ state income tax rate and cost the state an estimated 132,000 jobs and $31.3 billion in forgone GDP.View Report
Less than 50 cents of every additional property tax dollar over the last 20 years went to pay for services that raise home values. Instead, the primary driver of the rise in property taxes was pension costs.
A new study shows 13 percent of Chicago-area homeowners with mortgages owed at least 25 percent more than their homes were worth.
Statewide use of slush funds ensures it’s Christmas every day for political leaders and their chosen developers.
Illinois homeowners’ property taxes are among the highest in the nation. They are consuming more and more of Illinoisans’ incomes.
Illinois has by far the most units of government in the nation, at nearly 7,000.
The state’s high-tax burden is not only hurting struggling taxpayers’ pockets, but is also depreciating home values across Illinois.