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Comment: Read this for a wonderful illustration of rampant idiocy in the Illinois General Assembly. This foolish bill passed the House 108 to 1 with little discussion and little press.

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bob oriole park

The only way taxes will go down is if the city and county spends less. This is a quote from a city bond offering about how the multiplier is calculated. “The City’s aggregate property tax levy is divided by the equalized assessed value (“EAV”) of all property in the City to determine the tax rate that will be applied to an individual taxpayer’s property. The tax rate is applied to the EAV of the taxpayer’s property to determine the tax bill. Changes in EAV do not affect the amount of the City’s property tax revenue because the City’s property taxes… Read more »

Mike

Whether or not HB 156, in its current form, reduces property taxes depends on ones perspective and position. From the perspective of a property taxing district cutting the total amount of revenue it requests from property taxpayers, HB 156 does nothing. From the perspective of a property taxpayer with a home valued at less than $300K, on average their property taxes would decrease. From the perspective of a property taxpayer with a home valued at $300K or or higher, on average, their property taxes would increase. For anyone interested, in addition to the linked articles, the following lengthy comment is… Read more »

Mike

Owners of a $300K + home would on average pay hiked property taxes with House Bill 156 (HB 0156) in the 100th General Assembly.

The latest action was a Motion Filed to Reconsider Vote by State Representative Barbara Flynn Currie on April 6, 2017.

So the bill remains in the House at this time, even though it passed the House on the 108-1 vote.

Mike

House Speaker Michael Madigan was one of the 5 House members who were present for the vote, but chose not to vote (“NV”), on the bill.

There were also 4 excused absences.

Which brings us to 118 State Representatives, consisting of 67 Democrats and 59 Republicans (57% Democrat).

If the Republicans gain House 8 seats as a result of the in the November 6, 2018 general election, the House will be split 50% Republican, and 50% Democrat.

That in turn would result in an interesting vote for House Speaker.

Jim Palermo

The cynic in me says that the resulting higher taxes for suburban homeowners isn’t an unintended consequence but rather, by design.