Rating agencies and investors increasingly expect Illinois will push some of its worsening fiscal pain off to cities, schools, and transportation agencies as the state government grapples with plunging revenues caused by the COVID-19 pandemic. The contagion effect could come in multiple forms.
So to sum it up, THE ILLINOIS TAXPAYER is gonna get screwed, hammered, hog tied, beaten beyond belief. And we the taxpayers of Illinois think it’s bad now. I can see property tax bills going up by at least half of what people pay now, in 2021 2022 and beyond. Springfield and local municipalities better tread carefully. Maybe it’s time to make believers out of Springfield.
The one good thing about counties under PTELL is that taxing bodies are limited to 5% or 1/2 of inflation whichever is less in increases by law they created. Home Rule may have additional taxing powers.
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.
So to sum it up, THE ILLINOIS TAXPAYER is gonna get screwed, hammered, hog tied, beaten beyond belief. And we the taxpayers of Illinois think it’s bad now. I can see property tax bills going up by at least half of what people pay now, in 2021 2022 and beyond. Springfield and local municipalities better tread carefully. Maybe it’s time to make believers out of Springfield.
The one good thing about counties under PTELL is that taxing bodies are limited to 5% or 1/2 of inflation whichever is less in increases by law they created. Home Rule may have additional taxing powers.