News

“Refund” Would Be an “Increase” for Some

“Refund” Would Be an “Increase” for Some

The governor’s property tax refund would replace an existing tax credit—which means some homeowners would be paying a bit more.

The $500 refund Quinn called for in his budget address would get rid of the 5 percent property tax credit. Most homeowners receive less than $500 from that credit, but for those who pay more than $10,000 per year in property taxes, they would get a smaller refund under Quinn’s plan, but he says it still reduces the overall burden.

“We’re 20 percent above the national average when it comes to property taxes,” Quinn said. “One of the very best ways to reduce that burden on homeowners is to follow our budget.”

Quinn says only 8 percent of homeowners would be paying more under the refund plan, and since the current rebate is capped at $750, the biggest increase anyone could pay is $250.

 

Recent Headlines

in Local

Guilty Plea in Drug Induced Homicide

scales justice

Springfield man faces 30 years in drug death

in Local

S&P Revises Illinois Outlook Downward

state_capitol_3

Standard & Poor's Ratings Services has changed its outlook on Illinois' credit rating for the worse.

in Local

Grandstand Roof Repairs Won’t Be Finished by Fair Time

statefair_grandstand

Repairs to the state fair grandstand's roof won't be finished by the time the fair begins.

in Local

“No Sign of Homicide” in Female Body Found in Rochester

rochester police

Sangamon County Coroner Cinda Edwards hopes the mystery of a woman's skeleton found in Rochester over the weekend could be solved soon.