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Madigan Introduces Property Tax Rebate Legislation

Madigan Introduces Property Tax Rebate Legislation

Photo: Newsradio WTAX

A proposal to give Illinois homeowners a $500 property tax refund has been introduced in the General Assembly. House Speaker Michael Madigan filed the legislation Monday.

The measure was a key part of Gov. Pat Quinn’s budget address earlier this year, as was making permanent the income tax increase of 2011.

Under the proposal, refunds could be issued for 2013 property taxes as soon as September. That’s just weeks before the November election, when Quinn and many other lawmakers face re-election.

Republicans have opposed the refunds because they would cost the state more than the current 5 percent property tax credit.

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