A progressive tax proposal in the Illinois House would raise taxes on an overwhelming majority of families already struggling with some of the highest tax burdens in the nation.
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.
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...
Residents of DuPage County pay some of the highest property taxes in the state - and the country. As taxpayers feel the pinch, compensation remains generous for many local officials - some have even enjoyed a boost.
DuPage County billed property tax payers $2.74 billion for 2016; this meant owners of a median-valued home in Naperville worth $388,000 had a $9,000 property tax bill.
The Mount Prospect village manager is set to receive a $214,000 salary in 2018, joining a long list of other Illinois municipal officials collecting similar and even larger paychecks.
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.