Illinois homeowners pay the second-highest property taxes in the nation. If we want more homeowners in Illinois, we need to address the root causes of high property taxes – too much bureaucracy and mandates that add costs to our communities:
Empowering the voters to decide when their property taxes are raised will allow for better outcomes at the local level that will protect taxpayers.
- Starting in property tax year 2016, payable in 2017, all property tax extensions from local taxing districts will be equal to the extension from 2015.
- This will impact home rule and non-home rule units of government and both PTELL and non PTELL counties.
- It will still be possible for a property owner to see fluctuations in property tax bills due to an increase/decrease in value, new construction or the expiration of a tax increment financing district.
- Through a referendum voters may decide to break through the property tax freeze.
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In the News: Property Tax Freeze