Illinoisans’ property taxes could increase 5% starting in 2023 as local governments consider raising rates by the maximum allowed level to offset losses from decades-high inflation. Truth in Accounting founder Sheila Weinberg said Illinois experienced 7% inflation in 2021, the highest level reported since the state instituted a property tax cap in 1991. The Property Tax Extension […]
Illinois property taxes
Amendment 1 would guarantee $2,100 property tax hike for typical Illinois family
It’s election season in Illinois, and politicians are running on the promise of property tax relief as usual, including every major candidate for governor. Illinois’ property taxes are already the second-highest in the nation and a major reasontaxpayers are fleeing to lower-tax states. That problem could be made worse on Nov. 8 when voters will be asked to decide […]
Wirepoints analysis shows Illinois property tax bills have grown 268 percent since 1990
Illinois property taxes have far outpaced household incomes and home values since 1990, a Wirepoints analysis shows. Tax bills per household have grown 268% since 1990, while average home values have grown 114%. According to the nonprofit Wirepoints, the average household now owes nearly $4,400 in residential taxes each year, up from $1,200 in 1990. […]
