2021 Tax Bills Can Be 2.3% Higher Under the Real Estate Tax Cap

The Illinois Department of Revenue has announced that non-Home Rule ax districts can hike their property tax levies (demands) by 2.3% for the tax bill that will be sent in 2021,

The Departmental memo says,

“The Consumer Price Index (CPI) ‘cost of living’ or inflation percentage to use in computing the 2020 extensions (taxes payable in 2021) under PTELL is 2.3%.”

High probability that taxing entities will complain about lower revenues from sales and income taxes and lower the boom on local property taxpayers.


Comments

2021 Tax Bills Can Be 2.3% Higher Under the Real Estate Tax Cap — 10 Comments

  1. Mary Mahady, McH township assessor says we are not taxed enough.

  2. What we citizens and real estate tax payers need is a FREEZE on levies from school districts which make up about 70 percent of the bills sent to us. Perhaps a freeze for the next 10 years. Let those who manage the districts and the schools look for ways to continually lower their costs while at the same time improve outcomes of their students. The goal should be yearly lowering of school costs. Have the school districts innovate just as the private sector has to do else they perish.

  3. All elected officials should be looking how to cut spending.

    There are going to be lots of home owners and businesses who will not meet their property tax obligations.

    School districts really need an examination.

    A simple freeze will not work.

  4. I guess I’ll be putting my house up soon for sale to escape this socialistic pest hole.

    My own assessor says I’m lucky I don’t live in McHenry Township w/ McHady.

    She puts her thumbs on the scales.

  5. My dear Political Science and Sociology professor: It is time to think outside the box and be bold. Your 10 year idea is mild compared to what most of our population is demanding for. Isn’t a 100 year freeze and a complete shutdown of schools a better idea? Stay tuned…tic, tock, tic, tock, tic, tock, hug your neighbor, tic, tock, tic, tock, tic, tock, meeeeeeoooooooowwwwwwwwwwwwww…

  6. As President JFK said at his innaugaration, “And so, my fellow Americans: ask not what your country can do for you — ask what you can do for your country.”

    Similarly, today in McHenry County (and Illinois), a prominent Democrat politician should be saying, “And so, my fellow Illinoisan managers and administrators of schools, ask not what strapped home owners can do to fatten your paychecks and pensions, ask what you can do to lower their large real estate tax bills.”

    Perhaps Billionaire Governor Pritzker could lead the way.

  7. Look how these township assessors underassess their own homes and homes of kin and friends!

  8. How can tax bill increase almost 12% if there is a 5% tax cap

  9. The Tax Cap limit is on the total taxes a non-Home Rule tax district takes from its property owners.

    It sounds as if your share of the total was increased through your assessment being raise more than than average.

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