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Illinois

Property tax relief becomes sticking point in Illinois’ progressive tax debate

By Greg Bishop

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Illinois state Rep. Mike Zalewski, D-Riverside

 

SaHow to address the state’s high property taxes has emerged as the main sticking point in the debate over a proposed progressive income tax in the Illinois House.The amendment to ask voters to change the constitution’s flat income tax to one with higher rates for higher earners passed […]

Texas, Illinois & Washington lead the nation

Which U.S. States Have Seen the Biggest Property Tax Hikes in Recent Years?
Texas, Illinois and Washington are all getting pricier.
BY V.L. HENDRICKSON

 

Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question.

Q. What U.S. states have had the highest property tax increases over the last five years? […]

Protected: Pritzker progressive tax amendment allows for nation’s highest tax on business income

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Tax data collection bill passes Illinois Senate

By Provided News on April 7, 2019 – 2:58pm

A legislative reform package designed to improve property assessment data collection passed the Illinois Senate on April 4 and has moved to the Illinois House Rules Committee.
“Property taxes are something that every politician from both sides of the aisle talks about, but little is done to actually […]

Could Rent Controls Be Coming To Chicago?

03/02/2019, 04:54pm

Rent control gains momentum after Chicago voters again give it thumbs up

A Lift the Ban Coalition rally in support of rent control took place outside the Chicago Association of Realtors office on Friday. | Sun-Times/Alex Arriaga

By Alexandra Arriaga
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Debra Miller considers herself and her husband Jimi lucky.

“We were only homeless 19 months,” she said Friday, recounting […]

Rural Illinois power plant has higher tax bill than Disneyland, Willis Tower

 

By Cole Lauterbach | Illinois News Network
Jun 19, 2018

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Chris Allan | Shutterstock.com

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A plot of land in rural northern Illinois has the highest property tax bill in the United States outside of New York.
Assessed at $546 million, Exelon’s Byron Nuclear Generating Station was charged $36.5 million in property taxes in 2017. That’s a higher tab than […]

Top Ten in Property Tax Burden

NEW YORK, NY — Residents in New Jersey and Illinois pay more in property taxes than the rest of the country, according to a new report Wednesday from the financial news and opinion site 24/7 Wall St.. The authors reviewed the effective rate — meaning the total amount of property taxes paid each year as […]

PTAB Synopsis

The Illinois Property Tax Appeal Board has published a synopsis featuring attorney Mary Kathleen Fitzgerald. It is a review of the evidence and testimony presented by her and the attorney for the school district, in a contested effort to reduce the assessed value of a bank facility, located in Kane County, Illinois. The PTAB eventually […]

H-F board applies for state grant to reduce taxes

By Marilyn Thomas on January 7, 2019 – 6:06pm

The District 233 school board unanimously approved a grant application that could help reduce property taxes by more than $2 million.
 
The board agreed at its December meeting to apply for the Property Tax Relief Grant. The Illinois State Board of Education will review applications this month to […]

S&P lowers it’s rating on Illinois bonds

S&P Global Ratings lowered its ratings on Illinois’ Build Illinois senior- and junior-lien sales tax bonds to ‘BBB’ from ‘AA-’ upon the implementation of our recently released priority-lien tax revenue debt criteria. The outlook is stable.

“The downgrade reflects our view of the state’s general creditworthiness, which, under the new criteria, limits the final ratings on […]