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1. • • Property taxes are the single largest tax in Illinois, burdening residents far more than either income or sales taxes. Illinoisans already know they pay high property taxes. But what is not as well known is that property taxes are outpacing residents’ ability to pay for them.
     www.illinoispolicy.org/reports/growing-out-of-control-property-taxes-put-increasing-burden-on-illinois-taxpayers/

     Growing out of control: Property taxes put ... - Illinois Policy

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   Are property taxes outpacing Illinois residents?

   • Property taxes are the single largest tax in Illinois, burdening residents far more than either income or sales taxes. Illinoisans already know they pay high property taxes. But what is not as well known is that property taxes are outpacing residents’ ability to pay for them.

   Growing out of control: Property taxes put increasing burden on

   www.illinoispolicy.org/reports/growing-out-of-control-property-taxes-put-increasing-burden-on-illinois-taxpayers/

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   Does Illinois have a tax?

   • According to the Tax Foundation, Illinois has the third-highest corporate income tax, the fifth-highest cellphone tax, the 10th-highest local and state sales tax, the sixth-highest local and state debt per person, the ninth-highest excise taxes, and is one of only 18 states to impose a capital stock tax. 10

   Growing out of control: Property taxes put increasing burden on

   www.illinoispolicy.org/reports/growing-out-of-control-property-taxes-put-increasing-burden-on-illinois-taxpayers/

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   How do property taxes work in Illinois?

   • Thanks to the complex nature of property taxes in Illinois, it’s also difficult for taxpayers to know just where their tax dollars are going. Property taxes are the main source of income for local governments in Illinois. The state has nearly 7,000 local government districts with the power to levy property taxes, far more than any other state.

   Growing out of control: Property taxes put increasing burden on

   www.illinoispolicy.org/reports/growing-out-of-control-property-taxes-put-increasing-burden-on-illinois-taxpayers/

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   Why are Illinois' property taxes so high?

   • When measured against median household income, Illinoisans’ residential property-tax burden is 76 percent higher in 2013 than it was in 1990. And the state’s increasingly burdensome property taxes are not due to an attempt to keep other taxes low. Instead, property taxes are just one of the many high taxes Illinoisans face.

   Growing out of control: Property taxes put increasing burden on

   www.illinoispolicy.org/reports/growing-out-of-control-property-taxes-put-increasing-burden-on-illinois-taxpayers/

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   Should Illinois freeze property taxes?

   • The state needs to reduce the property-tax burden for all Illinois residents. Freezing property taxes at current levels would achieve that objective by lowering the tax burden in relation to the economy and household incomes over time. However, a property-tax freeze would only be a first step.

   Growing out of control: Property taxes put increasing burden on

   www.illinoispolicy.org/reports/growing-out-of-control-property-taxes-put-increasing-burden-on-illinois-taxpayers/

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   Should Illinois cap property tax growth?

   • In Illinois, capping the rate of property-tax growth is not enough. The state needs to reduce the property-tax burden for all Illinois residents. Freezing property taxes at current levels would achieve that objective by lowering the tax burden in relation to the economy and household incomes over time.

   Growing out of control: Property taxes put increasing burden on

   www.illinoispolicy.org/reports/growing-out-of-control-property-taxes-put-increasing-burden-on-illinois-taxpayers/

   See all results for this question

3. www.illinoispolicy.org › reports › growing-out-ofGrowing out of control: Property taxes put ... - Illinois Policy

   www.illinoispolicy.org › reports › growing-out-of

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   Illinoisans already know they pay high property taxes. But what is not as well known is that property taxes are outpacing residents’ ability to pay for them.

   • Property tax hike in disguise could cost Illinoisans billions

     Illinois’ total statewide property taxes are currently on...

4. www.nprillinois.org › illinois › 2024/09/26Illinois voters will consider whether millionaires should be ...

   www.nprillinois.org › illinois › 2024/09/26

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   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 on earmarking that money for property tax relief.

5. Videos

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     1:16

     youtube.com

     Illinois to begin sending out property tax and income tax rebates

     Sep 12, 2022

     4.6K Views

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     0:55

     nbcchicago.com

     Illinois Property Tax Rebate: How Much You Could Get and How to Know If You're Eligible

     Aug 11, 2022

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     3:31

     nbcchicago.com

     Illinois Property, Income Tax Rebate Checks Are Headed to 6 Million Residents. Here's When You Might Receive Yours

     Sep 17, 2022

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6. www.pjstar.com › story › newsWill Illinois residents ever get property tax relief? Here's ...

   www.pjstar.com › story › news

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   Oct 9, 2024 · Only New Jersey has a higher property tax burden in the United States than Illinois, according to the study unveiled by Quinn on Wednesday. The latest data by IDOR, from 2022, indicates that the 3 ...

7. www.illinoispolicy.org › press-releases › propertyProperty tax hike in disguise could cost Illinoisans billions

   www.illinoispolicy.org › press-releases › property

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   Nov 1, 2022 · Illinois’ total statewide property taxes are currently on pace to rise from an estimated $36 billion to $40 billion by 2026. These future tax increases will fall on both residential and...

8. www.sj-r.com › story › newsWhat to know about property tax relief question on Illinois ...

   www.sj-r.com › story › news

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   5 days ago · Per the latest data from the Illinois Department of Revenue, the 3 million households paid $23.2 billion in residential property taxes in 2022. Will passage of the measure have any impact on...

9. wirepoints.org › illinois-voters-will-weigh-in-onIllinois voters will weigh-in on a property tax advisory ...

   wirepoints.org › illinois-voters-will-weigh-in-on

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   4 days ago · Dylan Sharkey with the Illinois Policy Institute explained, “There was a similar measure in 2020 which asked if Illinois should adopt a progressive income tax structure. The issue with that is it incentivizes wealthy residents to flee to other states with lower taxes and Illinois gets less tax revenue than they originally had.”

10. www.mystateline.com › news › local-newsHere’s how Illinois’ proposed ‘millionaire tax’ would provide ...

    www.mystateline.com › news › local-news

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    Oct 10, 2024 · Former Illinois Governor Pat Quinn is advocating for an amendment expected to provide around $4.5 billion in property tax relief for middle-class residents by establishing a property tax relief ...