With one of the highest tax burdens in the nation, property tax relief must be priority. Speaking at a press conference at the Capitol, State Rep. Mark Batinick and his House Republican colleagues drew attention to the number one issue for many Illinois homeowners: the need for property tax relief.
A recent poll from the Paul Simon Public Policy Institute found that 47 percent of registered voters in Illinois say they want to move out, with 27 percent of them citing property taxes as their top reason. The Tax Foundation, the nation’s leading independent tax policy nonprofit, reported just this week that Illinois has one of the highest property tax burdens in the country (third), which contributes to the 5th highest overall tax burden in the nation.
“Families and seniors are being forced from their homes, not because they cannot afford their mortgage, but because they cannot afford their property taxes increasing each and every year,” Rep. Batinick said. “If we’re going to be asked to support a budget package, whatever that may end up looking like, we’re here to say there must be real, significant property tax relief for our constituents.”
The impact of property taxes is not limited to homeowners. Businesses are moving across state lines or closing entirely partially due to the high cost of property taxes in Illinois. The recent Tax Foundation analysis shows that Illinois’ property tax burden ranks as one of the least favorable for businesses, coming in at 46th in the nation.