Illinois lawmakers plan to stop property tax hikes – find out how!

Tackling the Burden of Local Property Taxes in Illinois

In a bold move to provide relief to Illinois taxpayers, State Rep. Brad Halbrook, R-Shelbyville, has introduced House Bill 1497. This bill aims to freeze local government property tax levies at the 2025 levels for levy years 2026-2030. Halbrook believes that local governments across the state must prioritize cost-saving measures and eliminate unnecessary operations to ease the financial burden on taxpayers.

Here are some key points from Rep. Halbrook’s proposal:

• Cutting Expenses: Halbrook emphasizes the need for local governments to find efficiencies and reduce expenses. He argues that agencies that have not made efforts to decrease spending must reevaluate their budgets to identify areas where costs can be cut.
• Limiting Tax Extensions: The Property Tax Extension Limitation Law (PTELL) restricts the amount of tax extensions for non-home rule taxing districts. Halbrook highlights the need for units of government to avoid maxing out their levies, regardless of their compliance with PTELL or the 4.99% limit.
• Restoring Funding: If the freeze on property tax levies is implemented, Halbrook also demands that the Local Government Distributive Fund managed by the state be restored to its original percentage of 10% of income tax collections. He questions why the fund was reduced to 6% in the past, despite significant growth in the state budget.

Additionally, Halbrook vows to vote against new mandates that could further strain local budgets, such as requiring public school districts to replace internal combustion engine buses with electric vehicles. He acknowledges that such mandates would increase costs and ultimately raise property taxes for residents.

Illinois has consistently ranked among the top states with the highest property taxes, with cities like Peoria and Rockford leading the pack. Halbrook’s bill seeks to address this issue and provide much-needed relief to property owners in the state.

In conclusion, the proposal put forth by Rep. Halbrook reflects a commitment to fiscal responsibility and ensuring that taxpayers are not burdened by ever-increasing property taxes. It is essential for local governments to explore avenues for cost reduction and efficiency to alleviate the financial strain on residents. Halbrook’s initiative serves as a step towards creating a more sustainable and equitable tax system in Illinois.