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

Court Date Set to Determine State Retiree Healthcare Refunds

state_capitol_3

The state will refund money to about 75,000 state retirees who've been paying a portion of their pensions for health insurance.

in Local

Durbin: President Did Right Thing on Immigration

immigration

Durbin tells Illinois colleagues to take action, not complain

in Local

New Life For An Old River

sangamon river

Thousands drive over the Sangamon River every day but, very few give it any thought

in Local

Sangamon Co. Judge Declares Pension Overhaul Unconstitutional; State Will Appeal

FILE - in this Dec. 5, 2013 file photo, Illinois Gov. Pat Quinn hands off a pen during the signing of the pension overhaul legislation bill in Chicago. A Sangamon County judge's ruling Friday Nov. 21, 2014 on the constitutionality of the landmark Illinois pension overhaul could determine whether the matter is ultimately decided by the state Supreme Court. Looking on from left are: state Rep. Mike Zalewski, D-Riverside; Sen. Bill Brady, R-Bloomington; Senate GOP leader Sen. Christine Radogno; Rep. Darlene Senger, R-Naperville; Rep. Jim Durkin, R-Western Springs and House Speaker Michael Madigan. (AP Photo/M. Spencer Green, File)

Illinois has the worst-funded state pension systems in the U.S., with a roughly $100 billion shortfall.

in Local

Illinois Killer’s Extradition Pending with Missouri Governor

jail

A Missouri prosecutor says convicted Illinois killer Nicholas Sheley's extradition paperwork remains with Gov. Jay Nixon.