property taxes

FLICKR USER BILL COMSTOCK / (CC x 2.0)

State lawmakers are looking to cut tax rates for senior citizens as Democrats and Republicans try to make local property taxes an election-year issue.

Democratic state Sen. Laura Murphy of Des Plaines said the cost of owning a home in her suburban district is getting too pricey for older people.

“It’s a very common concern of seniors anxious about how they’re going to remain in their homes,” she said.

It’s a common complaint: “Illinois has the worst property taxes in the United States.”

That may be great for making political hay, but it isn’t entirely true – according to a recent study by WalletHub.com of all 50 states and the District of Columbia.

Illinois ranked 50th in that study with an effective average annual property tax rate of 2.3 percent. But that’s one notch above New Jersey, which imposes an average effective property tax rate of 2.35 percent.

Wilhelm Joy Sanderson/Flickr

Columnist Charlie Wheeler says there are serious consequences under Gov. Bruce Rauner's tax proposal.  

Flickr user Mark Hillary / "My bed" (CC BY 2.0)

The Illinois Supreme Court considered a case Thursday that asks whether not-for-profit hospitals have to pay property taxes.

The case involves Urbana-based Carle hospital and clinics — though it could affect health systems across Illinois.  

At issue is the constitutionality of a state law that exempts not-for-profit hospitals from paying property taxes.

Laurel Prussing, the mayor of Urbana, says losing that tax money cost the city 11 percent of its tax base. 

Rockford May Extend Distressed Homes Tax Refund

Dec 21, 2016
City of Rockford

Rockford may extend a property tax refund for distressed homes.   

The Homebuyers Property Tax Refund Program was created in April.  It returns funds to owners who bought foreclosed properties or "short sale" homes.  These properties have mortgage amounts higher than their actual value.  

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