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Concerns From State Rep Over Property Taxes

Frustration is growing in Springfield over property taxes and recent tax shifts, tax hikes, and new mandates to drive property taxes even higher across Illinois communities. According to a recent study by Wallet Hub, Illinois has the second-highest property tax burden in the country.  Illinois has a statewide 2.23% property tax rate burden when all 102 counties are combined.  State Representative Mike Coffey says that Illinoisans have one of the highest overall tax burdens and Democrats aren't doing anything to help that. 

 

 

Representative Coffey says that numerous proposals he has supported would freeze, suspend, or outright reduce property taxes, various sales taxes, income taxes, and fuel taxes. 

 

Some tax relief measures supported by Representative Coffey include increasing the Senior Citizens Homestead Exemption from $5,000 to $8,000, no longer requiring disabled veterans to submit an annual application for the homestead exemption, putting limits on the assessment numbers, and capping the increase in a total homeowner's year to year property tax bill to no more than 5% unless the home has substantial improvements.  

 

New tax hikes are expected to bring in an estimated $750 million in new revenue.

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