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

US Rep. Davis: OK With Lawsuit Against Obama

davis

Whether President Obama winds up at the defense table or not, one of Illinois' Republican Congressmen is defending the move to sue him

in Local

Audit: State Wait Times for Nursing Care Claims 3 Months

state_capitol_1

Audit finds may seeking state-paid nursing home care have been waiting more than 90 days for a decision on their cases

in Local

The Fix for Illinois in 98 Steps

illinois flag

Ex-lawmaker, ex-revenue chief co-write new book

in Local

State Fairgrounds Repairs Are Ongoing

state fair logo

IHPA is also short of cash

in Local

A New Law Will Support Community Health Workers

local_news_generic

Sponsor: Current status is unofficial