Rising prices and mortgage rates are making housing unaffordable for a growing number of Illinoisans. A property tax increase on the Nov. 8 ballot could make it worse.
Illinois homeowners are most likely in the nation to be in foreclosure. The looming $2,100 property tax hike from Amendment 1 would make housing even more unaffordable.
Despite a full year of job gains, all Illinois metropolitan areas are missing jobs since the pandemic began and the recovery stalled. While May brought job gains statewide, only eight metro areas saw gains while seven saw losses.
Drivers are now paying $35 more to fill-up on regular gasoline and $65 more for diesel than they were a year ago. Gas taxes eat more than one-fifth of every tank.
A Rockford family and their trucking business are being driven out of Illinois by high taxes and bad public policies. If voters agree Nov. 8 to enshrining public union power in the Illinois Constitution, expect more businesses and workers to leave.
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.