Springfield, IL – A new report released by the Cook County Treasurer’s Office shows property taxes collected over the past 30 years grew at twice the rate of inflation. Cook County Treasurer Maria Pappas is calling on state legislators and local government officials to act on implementing meaningful property tax reforms, along with reining in excessive spending.
“If this continues we’re going to see more rental cars and Hertz trucks moving people out of here,” Pappas is quoted as saying in a story written by Jake Griffin of the Daily Herald. In response, State Representative Dan Ugaste (R-Geneva) has released the following statement:
“Illinois residents pay the highest property taxes in the country. In Cook County, the commercial rates are substantially higher than the residential rates, with some businesses paying seven times above the national average. In addition, seniors and low-income families are dealing with assessment spikes and crippling increases, forcing very difficult financial decisions, including moving out of state and away from loved ones just to make ends meet.
“We should be talking about ways to deliver property tax relief across Illinois. My bill, HB 9, would create and administer a grant program to provide property tax relief to school districts statewide. This program would have provided $3.5 billion in property tax relief this past year alone. Estimates from two years ago showed this plan was projected to save homeowners and businesses over $82 billion in 21 years. The report from the Cook County Treasurer’s Office is clear – something must be done to provide property tax relief in this state. It’s time to stop talking and start enacting serious reforms.”