Senate Bill 1046; take back control over high property taxes

The distinction of having the second-highest property tax burden in the nation is not an honor Lake County property owners want to have.  Along with that, we spend the highest percentage of our total income on property taxes.Housing Costs

Original Article:  SB 1046 would allow taxpayers to take back control over skyrocketing property taxes.

Illinois has the second-highest property taxes in the nation.

But a new proposal Illinois politicians are considering today would give local taxpayers the ability to freeze their property taxes.

Article by Hilary Gowins Yelvington, May 28, 2015 Illinois Policy Org.

Under an amendment to Senate Bill 1046, starting in property-tax year 2016 (payable in 2017), property-tax extensions from all local taxing districts would be frozen at the amount of the 2015 extension.

Only by a vote from taxpayers would a local governing body be able to earn additional taxing authority.

Property taxes are one of the most painful taxes Illinoisans face. This money funds a multitude of local government agencies, such as municipalities, schools, park districts, libraries, mosquito abatement districts, townships, counties and more.

With 6,968 local governments, Illinois has more than 2,000 more local government agencies than any other state. Pennsylvania comes in second with 4,905.

That’s a lot of government to fund – and it just keeps getting more expensive. Property taxes on the average Illinois home total $3,939, the second-highest sum in the U.S., and only $32 below New Jersey, the nation’s worst offender. That puts Illinois’ property-tax burden at more than two and a half times that of Indiana, and more than double Missouri’s.

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Illinoisans can’t keep paying more in property taxes – families must be able to feel secure in affording their homes. SB 1046 would allow taxpayers to take back control over skyrocketing property taxes.       ………….Continue Article.

Original Article: https://www.illinoispolicy.org/voice-support-for-property-tax-freeze/