Amended Bears megaproject bill could have major impact on property tax payers – Center Square

The issue for other property taxpayers comes in a technical clause in the bill that allows local governments to count the cash value of the megaproject toward its tax base even though the entity is receiving a lower negotiated payment. Illinois has a 5 percent cap on property tax increases, but by counting the value of a megaproject in the tax base without receiving the corresponding property tax payment, other taxpayers could see property tax bill increases that far exceed the 5 percent cap.
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Call my shrink
3 months ago

Personally let them move. I can’t afford a ticket and to be honest I’d rather watch it at home. And with the money the state saves with infrastructure maybe they could use it to fill in the Lake Michigan size potholes that are popping up all over. The ones the gas tax have forgotten

Fed Up Taxpayer
3 months ago

Well if the Bears skip to Indiana, Illinois is going to get alot less in taxes. And it sounds as if Illinois legislature is still playing around with the tax bills for the stadium. It is this indecision, aka incompetence, that made the Bears look elsewhere in the first place. Meanwhile, JB has signed off on millions in tax incentives for his tech bros and data centers while everyone complains about the Bears. If the tax incentives are based on future revenue and jobs, Illinois needs to ensure those numbers are met – and close the taxpayer checkbook that has… Read more »

Sanity please
3 months ago

The only thing that Illinois taxpayers get
is we get it in the face when the sh.. hits
the fan.
Hows about we get a great deal on quality
toilets or best made Lion School Buses.

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