McSweeney Bill Would Lower All Illinois Property Tax Levies by 10 Percent

From Illinois Policy:

"State Reps. David McSweeney, R-Barrington Hills, and Jonathan Carroll, D-Northbrook have co-sponsored a bill that would permanently lower property tax levies statewide by 10 percent.

The proposal, House Bill 320, would expand the Property Tax Extension Limitation Law, or PTELL. PTELL limits the rate at which non-home rule communities in certain counties can increase their property tax levies. HB 320 would expand similar curbs to all taxing authorities in Illinois, regardless of county or home rule status.

“We have to do more than just stop property taxes from increasing – we must find ways to lower the property tax burden in Illinois,” McSweeney said in a statement.

Under HB 320, all Illinois taxing districts would phase in a 10-percent levy reduction during a two-year period. The levy is the annual amount a government requests from property taxpayers. Local governments would lower those requests by 5 percent in the 2019 levy year, and another 5 percent in 2020. The measure would freeze those 2020 levies, which could only increase again if voters approved a ballot question."

No comments :