If an Illinois worker takes a pay cut during a recession, she knows the state isn’t going to take an even bigger chunk out of her paycheck. That’s because the state income tax rate stays the same. But if her home loses value, too, she could still see her property tax bill go up. Government...View Report
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.