In simple terms: House Bill 4058 lowers the minimum size for a “megaproject” from $500 million to $100 million, meaning smaller projects can now get the same huge tax breaks. Brian Costin, deputy state director at Americans for Prosperity Illinois, warns this lets more developers take advantage of the program, while regular homeowners and local businesses end up paying more in taxes to cover the difference.
that’s odd; Illinois increasing taxes for regular homeowners
MsT
7 months ago
In even more simple terms, the taxes the developers don’t pay will be paid by other tax payers. The assessed taxes don’t change–what changes is who pays them. Think you, think me. How do you feel about $100M projects getting breaks your $250K home will never, ever qualify for?
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
that’s odd; Illinois increasing taxes for regular homeowners
In even more simple terms, the taxes the developers don’t pay will be paid by other tax payers. The assessed taxes don’t change–what changes is who pays them. Think you, think me. How do you feel about $100M projects getting breaks your $250K home will never, ever qualify for?