Like Social Security, the Property Tax Cap is governed by the Consumer Price Increase.
Social Secutiry benefits next year will increase by 5.9% (Source: Associated Press.)
The Tax Cap (called PTELL by insiders) is governed by the annual CPI issued for the calendar year.
And it applies to taxes paid the next year.
So, if tax districts show they typical inability to refrain from tax hikes, expect your will to go up by as much as five percent, th emaximun allowed under the law for non-Home Rule units of government.
That’s the biggest increase to Social Security checks in 39 years.
Yippee! More green pieces of paper for all.
If FDR could, he’d tell you he could have sworn, everyone would have 10 kids and would die at 60 forever.
So, are we begrudging those on Social Security COLA increases ?
We homeowners and real estate tax payers need a reverse cola for school districts which are about 70 percent of our total tax bill. How about a two percent decrease each year over the next 10 years for every school district and school in McHenry County. The school districts CAN live with this by cutting the fat such as in administration jobs.
LMAO Innocent has no clue what a harbinger is. Dude, you are LOST at the bakery!
What are you smoking, bred?