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Tag Archives: property taxes

IL HOUSE OKs PROPERTY TAX FREEZE

The Illinois House Wednesday approved a two-year property tax relief measure which would freeze on property taxes in Cook and the collar counties. Downstate voters also can choose a two-year freeze if they approve it by referendum. Critics say the measure is too watered down with exemptions and would shift costs to businesses and others…. read more

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TAX BREAK BATTLE

Attorneys representing four local taxing bodies showed Tuesday they’re not ready to hand Mitsubishi Motors a quarter-million dollar property tax break just because the auto plant is closing its Normal plant in May.  A decision on the tax break will be released within one to three weeks, as reported by the Pantagraph.

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PROPERTY TAXES

A new report from the Tax Foundation finds Illinois has the second highest property taxes in the U.S. New Jersey has the highest effective rate, followed closely by Illinois at 2.32% of a property’s value.

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SPRINGFIELD UPDATE

Tuesday was another day and nothing the Governor is expected to support was accomplished in Springfield. With three weeks left before the next budget year is set to begin, a measure Democrats say mirrors Governor Bruce Rauner’s proposals on freezing property taxes while also addressing local control of prevailing wage was shot down with Republicans… read more

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