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

Illinois Agriculture Ready for Trade with Cuba

Updated
illinois farm bureau

The Illinois Cuba Working Group is optimistic about the prospects for Illinois commodities getting into Cuba, as relations continue to thaw between that country and the U.S.

in Local

ACLU Files Suit Over State Budget

Updated
DCFS-Logo

The American Civil Liberties Union has filed a federal lawsuit asking for state funding of child-protective services to continue despite the lack of a state budget.

in Local

U of I Looking at Budget Long-Term

Updated
university illinois

The provost of the University of Illinois' flagship campus in Urbana-Champaign says a task force has been formed to plot a long-term financial course in light of continued state budget cuts.

in Local

Freedom Short-lived for Iowa Escapee

policetape2

Henry County deputies round him up

in Local

Pekin and Louisville Sites Are Historic

ihpa logo

Clay County Courthouse, mid-century retail plaza among honorees