The state should simplify and amend the General State Aid formula to end loopholes, and require each school district to fully report its true property wealth when requesting means-based state aid.
Illinois politicians passed a record income tax increase in January 2011. Part of the deal they made was to allow most of that tax hike to sunset in 2015. That deadline is quickly approaching – Illinois’ income tax rates are legally required to come down in nearly six months. Lawmakers should have been preparing for...
Village officials in Schaumburg are pushing for $512 million in new property taxes via a Tax Increment Financing, or TIF, district. The taxes would be used to create an entertainment district north of Woodfield Mall. But it’s not just people who pay property taxes in Schaumburg who would foot the bill. TIF districts cause property...
Chicago Public Schools, or CPS, has been getting special treatment from the state for almost 20 years when it comes to funding for special education, transportation and nutrition programs. According to a recent report in the Belleville News-Democrat, CPS received $607 million in a special block grant from the state last year for these programs...
In a free enterprise system, businesses grow organically by providing customers with products of value, and in return customers reward those businesses with their hard-earned money. Unfortunately, in Illinois the free enterprise system has been corrupted by bad government policies. Because of Illinois’ high taxes, regulations and anti-free-market policies, many businesses now resort to playing...
Instead of creating a business-friendly environment by keeping taxes and regulations low, Illinois state government and the city of Chicago have a laundry list of special tools they claim promote economic development. These tools include: tax increment financing, or TIF, districts; economic grants; and a series of loopholes in the tax code. When government gives...
There’s an old saying that goes, “don’t mix politics and business,” and as long as your business isn’t politics that’s some pretty wise advice. Unfortunately, nowadays government is more frequently going out of its way to mix business and politics in the form of tax increment financing districts, or TIF districts, and corporate welfare. For...
by Brian Costin Property tax bills are hitting mailboxes this week for residents across the state. The average homeowner in Illinois has an effective property tax rate of 1.93 percent; this is the second-highest property tax rate in the country. Homeowners in Lake County pay a median effective property tax rate of 2.46 percent, which ranks...
Occupational licensing requirements present one of the steepest barriers to low-income Illinoisans starting careers in beauty services. Illinois requires anyone seeking to become a barber, cosmetologist, nail technician or hair braider to obtain a state license, essentially a permission slip to work. Unlike 45 other states, Illinois offers only one pathway to licensure for each...