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2 days ago · The referendum asks: "Should the Illinois Constitution be amended to create an additional 3% tax on income greater than $1,000,000 for the purpose of dedicating funds raised to property tax relief?" By voting yes, Illinois voters will call for passage of the largest property tax relief measure in state history.
Sep 26, 2024 · “This is the first time Illinois voters have a chance to vote on a specific measure to fund property tax relief for over 3 million households in our state,” Quinn said. “Illinois has the second highest property taxes in the country. It’s hammering a lot of folks who live from paycheck to paycheck, and getting a property tax relief ...
Sep 26, 2024 · A 3% tax on individual income over $1 million would flood Illinois’ coffers with at least $4.5 billion in new revenues annually, a new state estimate shows weeks ahead of an advisory referendum ...
Sep 30, 2024 · CHICAGO (Sept. 26, 2024) – Early voting begins in Illinois today for the Nov. 5 general election, including on a non-binding advisory question on whether the state should adopt a “millionaire ...
Jan 26, 2024 · Applications are due March 1, 2024 for this property tax deferral program. Starting with property taxes due in tax year year 2023, which are due in 2024, a change in state law has permanently lowered the interest rate for eligible seniors who defer some or all of the property taxes they owe by participating in the Senior Citizen Real Estate Tax Deferral Program, a State of Illinois program ...
May 20, 2022 · Over the past 20 years, property taxes have skyrocketed at a rate far surpassing the increase in home values, the governor noted, saying it's "unacceptable" and "needs to change."
People also ask
Should Illinois freeze property taxes?
Does new Illinois law provide property tax relief?
Will a 3% property tax flood Illinois' coffers?
Will Illinois residents weigh-in on a non-binding property tax advisory question?
Should Illinois cap property tax growth?
Does Illinois have a tax?
Using the quotient of the average property-tax payment divided by the median household income as an indicator of the property-tax burden, the tax burden increased to 6.4 percent in 2013 from 3.6 ...
