If Illinois adopted Virginia’s spending habits along with policies that can reduce costs and raise home values, the Prairie State could vastly reduce the property tax burden that Illinois homeowners currently face.View Report
The continuing erosion of Illinois’ tax base is the state’s most pressing budget problem.
Census data released Dec. 20 show the Land of Lincoln is no longer the fifth-largest state in the U.S.
Decatur lost 3,400 residents from 2010 to 2016, or about 4.5 percent of its population.
Twelve of the 29 Illinois cities with over 50,000 in population are losing residents.
While major headlines broke over news that Chicago was the only one of America’s largest 20 cities to shrink from July 2015 to July 2016, most of Illinois’ other cities with 50,000 people or more also lost population.
High-income earners provide the majority of Illinois’ income tax revenue, and IRS data show that Illinois is losing these taxpayers to out-migration.
Macon County is one of the 89 counties out of Illinois’ 102 that are losing residents.
St. Clair and Madison counties saw combined population losses of more than 1,600 people due to out-migration to other states.
Illinoisans from all areas are leaving the state in droves, and Springfield lawmakers need look no farther than the state capital to see the proof.
Newly released census data show more than 5,100 Lake County residents moved to other U.S. locales last year, causing the county’s population to shrink.