A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign
“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”
Illinois gives a 5% property tax credit on my residence tax. I.prepaid $5,000 or a $250 credit. Cook County is up to $300 million in prepaid taxes. What a credit hit to Illinois. Least it reduces my extra state income tax for the year!!
Lots of hot air on this topic. Many who pay high taxes are also subject to the AMT provision. If so, prepaying next year’s taxes will have 0 impact to your tax liability in 2017. Pappas has already said you cant pay the 2nd half – they are not set up to take it and the number isn’t known, and thus cant be assessed.