Madison County voters have twice turned down a proposed sales-tax hike to fund school facilities projects, but the proposal will appear again on March primary ballots. If approved, shoppers in Collinsville and Granite City would see some of the highest sales tax rates in the country.
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.
Even after a 32 percent income tax hike, the Illinois General Assembly passed a state budget in 2017 that will generate an estimated $1.5 billion deficit in fiscal year 2018. That deficit is projected to grow to $2.15 billion in fiscal year 2019, according to the Governor’s Office of Management and Budget, or GOMB. The...
Cities and villages across the state are raising taxes or implementing new ones for a variety of functions, from attracting a fast-food restaurant to catching up on rising pension costs.
House Joint Resolution 69 would create a special task force to investigate and report on state and local property tax assessment, appeals processes and other property tax policies.
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.