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Real estate assessments are being hiked by 8% in a lot of townships. That has to be scaring people who don’t understand the property tax system. There are two parts to the tax bill: the assessment the tax rate On … Continue reading
Category Archives: Property Tax Cap
Under the Property Tax Cap, a non-Home Rule Unit (think municipalities over 25,000 people like Chicago, Crystal Lake and McHenry, plus municipalities who have approved Home Rule by referendum vote lie Barrington Hills) may not raise its tax levy by … Continue reading
Woodstock resident Susan Handlesman offers the following good advice of how you might influence Governor Bruce Rauner to veto a bill that is, if signed, is bound to increase local school taxes: Contact Rauner: Stop schools’ tax cap evasion loophole, … Continue reading
Ran into Crystal Lake High School District 155 Board President Ted Wagner and he told me something I did not know before. The High School Board “left $758,000 on the table.” Those were his words. What’s that mean? It means … Continue reading
Rural Woodstock resident Susan Handelsman put the following together after reading about some of State Rep. Jack Franks’ bills. Tax Relief Bills Won’t Approach Solving the Problem Political proposals for property tax relief seem to focus on temporary freezes, along … Continue reading
Earlier this month, the Illinois Department of Revenue showed in inflation increase was 8/10 of 1% for 2015. That indicated that non-Home Rule tax districts (schools being the most expensive) could not increase their tax take by more than 8/10 … Continue reading
The Illinois Revenue Department has released the Consumer Price Index number for 2015. It will determine how much budgets of non-Home Rule units like schools can increase their budgets next year. The rate of inflation last year was 8/10 of … Continue reading
It will be interesting to see how House Republicans who attacked State Rep. Jack Franks’ proposed “property tax freeze” will react when they discover that Govenror Bruce Rauner’s takes the same approach. (Read the language of Franks’ House Bill 695 … Continue reading
In a 24-0 vote Tuesday night, the McHenry County Board voted not to take the inflationary increase allowed by the Property Tax Cap Law. This past year, the Consumer Price Index increased 8/10 of one percent. According to the Tax … Continue reading
As I have been trying to get through to folks, something called the “tax extension” is what people (including reporters) should concentrate on. The extensions of all tax districts in McHenry County can be found on the McHenry County Clerk’s … Continue reading
Thought I’d take a look at what McHenry County’s Democratic Party State Representative Jack Franks has introduced in Springfield. There are two Constitutional Amendments: Abolish the Office of Lt. Governor. (Dave McSweeney introduced it and got it through the House … Continue reading
With McHenry County being the 29th highest property taxed county in the nation, perhaps it would be useful to compare tax burdens of those with $300,000 homes in Illinois with those in Indiana and California. Mortgages are also compared below: … Continue reading
Back in November, Scott Curry was thinking about running for McHenry Alderman in Ward 4. Here’s what he said when he addressed the Finance and Personnel Committee on November 3rd: Thank you for allowing me to speak this evening. As you … Continue reading
Thanks to The First Electric Newspaper for reminding me that it is that time of year when financial officials at tax districts find out how much more tax money they will be able to get in 2016. They already know … Continue reading
Reader “Connecting Dots” inserted this property tax information in a comment under the article, “McSweeney Introduces Eleven Bills.” There are comments on more than one of the bills, but with regard to McSweeney’s House Bill 178 to freeze township extensions … Continue reading
Sophomore State Rep. David McSweeney introduced eleven bills on the first day of the session. To say that it is an ambitious agenda is more than an understatement. You can take a look at them below: House Bill 173 – Repeals … Continue reading
Should have caught this sooner. The Village of Bull Valley and the River East Public Library District are asking voter permission to bump their tax rates way up. Look at the ballot question in Bull Valley first: Bull Valley is … Continue reading
The Northwest Herald reported Friday that Cary Elementary School District 26’s Board decided to take from the property taxpayers next year every dime allowed by the Property Tax Cap. That’s an increase of 1.5% over what was extracted this year. … Continue reading
The vote was 13 Will County Board Democrats voting “Yes” and 11 Will County Republicans voting “No” when the budget was passed. That’s what the SouthtownStar reported yesterday. The County Board’s budget vote took the maximum amount allowed by law … Continue reading
The Illinois real estate assessment system bases one’s share of the total bill on the value of one’s property (unless one has farm land). A short history of how we got where we are. The 1870 Constitution required that real … Continue reading