One more month to go in 2015 and it doesn’t look as if the cost of living will have gone up even one percent.
Tax districts, such as schools, are limited to taking no more total dollars than the percentage increase in the Consumer Price Index.
Through November, the CPI is up only one-half of one percent, according to Brad Kramer of the Illinois Revenue Department.
Last year the inflation rate was only 8/10 of one percent.
That means no tax district which is not a Home Rule Unit will be able to increase its total tax take more than half a percent.. (There are probably some exceptions to this general rule for bond payments.)
From a political point of view, lots of local tax district officials have foregone an opportunity for good publicity by just passing levies that are flat.
After all it would be “hurting” them less than in any other year since 2008, when the CPI rose 1/10 of one percent.
Instead, many have asked for the moon again.
And they absolutely knew that they would get almost nothing.
Their excuse is that they want to capture all the new growth.
That’s what they “balloon levy,” reaching for the sky.
The tax districts will be disappointed when they receive virtually no more than last year.
This does not mean that individual tax bills won’t go up more than the CPI, because the limitation is on the total amount more that the tax district can collect, not what individuals are forced to pay.
The other variable–the assessed valuation–may shift who pays how much.
Residents of the U.S.A. have been indoctrinated over the past century to come to actually believe that when a federal or state income tax refund is returned to them (because they paid too much to start with) the state of federal government is ‘giving’ them money!
Federal and state ‘grants’ funded by tax dollars are looked upon as “free money” by elected officials.
Now I read above: “After all it would be “hurting” them less “!
I am glad Cal put quotes around the word “hurting” because I know that did not come from Cal.
The word in quotes is from elected officials and public sector employees.
When elected officials and public sector employees CONFISCATE your money they have come to believe that you OWE them!!!
Contact your elected local, state and federal elected officials.
Tell them you will not vote for anyone who does not have a track record of lowering the tax burden or, candidates for office not yet elected, advocating for it.
Cautious Voter, that is a very small if non existent list.
Unfortunately, it appears the only way out of this debt spiral is for USA to hit bottom.
We, the people, only have ourselves to blame.
This is why in my opinion it is critical Trump win; not because of Trump the man per se but for what it represents and that is we the people regaining control of our government and thumbing our nose at the two card Monte called the Replublican and Democratic party.
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I hope they cannot tax to the max! My assessment went up 27%.
Thye will get enough from that!
I’m expecting to now pay an amount equal to a small, new car, EVERY YEAR!!
Still searching for what we are getting that folks in Wisconsin, Iowa, Indiana, Ohio, Kentucky are not getting.
And they want to instill new and higher taxes at a state level.
Republicans likely to support, but Dems still have overwhelming majorities to pass whatever they want.
Most, if not many, Americans don’t even realize that they
have been living under a Socialist government for over 100 years.
The passage of the 16th amendment in 1913 gave the “government”
power to confiscate their property, their income, without the consent by vote of the citizenry.
America and it’s Constitution was overthrown by it’s own government without firing so much as a single shot.
If they can confiscate the property why don’t they do it to wealthy individuals that haven’t paid their taxes.
The middle class is paying for the estate taxes of the wealthiest and for tax breaks given to multinational corporations.
The state does not pay their fair share for education so property owners are burdened.
Social security is not put in a dedicated fund as Canada does but used for the general fund which is why there is a war to privatize social security.
The middle class fights each other instead of fighting for us no matter what party and now Rauner and the congress wants to use dedicated funds for the budget because both of them can’t get their acts together.
Abe, you are spot on with your history.
Remember, it was the Bull-Moose Party which paved the way for Woodrill Wilson.
1913-14 – The income tax, Federal Reserve Act and US Senators elected by popular vote rather than State Legislatures.
The end of the Residuary Clause to US Constitution and 10th Amendment ie State Rights and Powers.
In otherwords, it was the end of America as conceived by our founders.
We moved from a system of money to a system of currency and the middle class has been poorer ever since.
Has anyone heard about the military (Gen. Dunford) taking over the Fed?
Steiper and Abe, if you continuec spewing that kind of truth, you will be dealt with accordingly…
Or at least shunned by the general populace…
Knock it off!
Just keep your eyes closed, your mouth shut and go vote Republican… Or Democrat…
The collective bargaining agreements, administrator contracts, and benefits are not tied to CPI though.
Which in many cases means less money for other purposes.