Two-Year Property Tax Freeze Passes Senate

The Illinois State Senate has passed Senate Bill 482, legislation that would impose a two-year freeze on property tax takings (called “extensions).

Here is the summary of the bill, which obviously cannot become law unless the Illinois House passes it;

Amends the Property Tax Extension Limitation Law in the Property Tax Code.

Provides that, for levy years 2017 and 2018, the term “taxing district” includes all taxing districts in the State other than the City of Chicago and school districts that were not subject to the Law in the 2016 levy year.

Provides that, for levy years 2017 and 2018, except with respect to school districts that were subject to the Law in the 2016 levy year, the extension limitation is 0% or the rate of increase approved by the voters. [I have no idea what school districts exempted might be.]

Provides that, for levy years 2017 and 2018, only special purpose extensions

  1. made for the payment of principal and interest on bonds or other evidences of indebtedness issued by the taxing district or
  2. made for contributions to a pension fund

are exempt from taxing districts’ aggregate extensions.

Preempts home rule.

Effective immediately.
It is my guess that this something Mike Madigan is willing to see enacted.


Two-Year Property Tax Freeze Passes Senate — 17 Comments

  1. The two year time frame combined with the exceptions make this measure pretty toothless.

    It’s a fig leaf just like Jacko’s “cut ten” plan.

  2. All three county Senators voted against this.

    Maybe they would enlighten us here with the pros and con arguments, why they voted no.

  3. Althoff probably voted against it for the same reason that McConchie and most of the other Republicans voted against it; it only lasts for two years and it has too many loopholes.

    This bill is a rather ineffectual alternative to what the Republicans have proposed, but it does allow the Dems to pretend that they actually care about property tax relief.

  4. At what point do the Pols figure out a strategy, to shift the blame for outrageous taxation, on where it belongs?

    If the amounts you paid this week to the County Treasurer went up 22% from last year like mine, be sure to thank the next teacher you see.

  5. The Teacher’s Union should be dissolved their days are numbered, they have contributed to the corruption.

  6. See a teacher? Thank a teacher! Tic, tock, tic, tock…

  7. Republicans believe that the people are best served when the decisions are made on a local level.

    While a property tax freeze sounds nice, the net net is irrelevant because it doesn’t really deal with the real problem:

    We elect people to local boards that are self interested, ill equipped or unwilling to do the tough work and represent the people.

    For instance, while the Republican party was at war for Township offices, the districts of 47 and 155 cross pollinated their boards with union members…

    I’ll state it clearer: in Crystal Lake School Districts 47 and 155 teachers ARE THE MAJORITY ON BOTH BOARDS.

    We are done folk. T

    he fix is in from the top down.

    Illinois is broke, McHenry County is corrupt and we expend so much energy on self interest and ego wars that we have given up the ship.

    Time to go.

  8. This is no time for despair. Our tax-fighter, sunshine blogger will carry the torch in the noble mission of a tax-free county and full privatization. 2018, are you here yet? Tic, tock, tic, tock…

  9. Angel your participation on this Blog, reminds all of us, what Nasty is . . .

  10. Madigan agreed to the Property Tax Cap legislation.

    That’s why I think he might agree to a two-year freeze.

  11. Ain’t gonna be enough for Junk Bond Brucie.

    Will Bruce Rauner and his billionaire friends cash in when the State’s junk bond interest rates skyrocket due to Rauner’s THIRD no-budget year in office?

    Stay tuned…

  12. Madigan and his cohorts have been “cashing in” for four decades,
    which explains why Illinois is in the shape it’s in.

    Next stop for Illinois will be the first state to achieve junk bond status.

    Thank the first DEMOCRAT you see today, and …… stay tuned.

  13. Hello the general assembly went home without a budget and no vote cast on this “what are you stupid or something”.

    Where is the outrage that Illinois has no budget what is the matter with you people

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