Task force to study property tax relief in Illinois
After a spring spent focusing on possibly bringing a graduated income tax to the state, Illinois lawmakers will soon be turning their attention to the other big tax bill affecting the state’s residents, property taxes.
Specifically, they’ll be looking at ways the state can provide some relief to property taxpayers, even though property taxes themselves are imposed by local governments and the revenue from them finances local government operations.
Gov. J.B. Pritzker this week is expected to sign Senate Bill 1932 which creates a property tax relief task force. It will include representatives from Pritzker’s office and all four of the legislative caucuses.
Pritzker agreed to the task force after a couple of House Democrats threatened to withhold their votes from his graduated income tax proposal because they said it did not do enough to address high property taxes.
Lawmakers will be under intense pressure from the start. The bill creating the task force stipulates an initial report should be made to the governor and General Assembly within 90 days of the bill being signed. A final report has to be completed by the end of the year.
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Specifically, they’ll be looking at ways the state can provide some relief to property taxpayers, even though property taxes themselves are imposed by local governments and the revenue from them finances local government operations.
Gov. J.B. Pritzker this week is expected to sign Senate Bill 1932 which creates a property tax relief task force. It will include representatives from Pritzker’s office and all four of the legislative caucuses.
Pritzker agreed to the task force after a couple of House Democrats threatened to withhold their votes from his graduated income tax proposal because they said it did not do enough to address high property taxes.
Lawmakers will be under intense pressure from the start. The bill creating the task force stipulates an initial report should be made to the governor and General Assembly within 90 days of the bill being signed. A final report has to be completed by the end of the year.
Click Here to read more.