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Rauner Takes Aim at Property Taxes

Rauner Takes Aim at Property Taxes

Part of the Bruce Rauner tax agenda is a freeze on property tax.

In addition to a sales tax increase and an income tax decrease, Rauner, the Republican nominee for governor, wants to freeze property taxes, which are collected by local governments and school districts.

“This is the No. 1 problem we have. Our local property taxes are stunningly high. They’re the second-highest in America, and soon to be the highest in America. They’re punishing our hard-working families of our state,” he said as he introduced his tax proposal at a factory in Schaumburg.

Rauner says the average homeowner in the state pays $4,469 in property tax each year, and in most Illinois counties, property tax is greater than 1.5 percent of the value of the home.

Businesses pay property tax too..

Under Rauner’s plan, the amount of tax that a local government levies would not go up unless voters approve a referendum.

Rauner says he’ll tell us soon how he would provide more state support for school districts, since about 60 percent of the property tax that is collected statewide goes to local school districts. The rest goes to cities, counties, townships, community college districts and special districts such as park, library and fire protection districts.

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