Report finds Illinois leads nation with highest property taxes

Posted on April 29, 2016
Springfield
The Illinois House passed a bill introduced by Franks that would freeze property taxes non-home-rule units of government, a category which includes smaller municipalities and all school districts. (WJBC File Photo)

By Greg Bishop/Illinois Radio Network

SPRINGFIELD – Move over, New Jersey. A new report says Illinois has the highest property taxes in the nation.

CoreLogic, a financial services organization in California, says the Land of Lincoln has the highest property tax rate in the U.S. Their data shows Illinois’ median property tax rate is more than double the national average.

Democratic state Rep. Jack Franks said it’s “awful.”

“Whether we’re No. 1 or No. 2 doesn’t matter. People are voting with their feet,” Franks said. “They’re leaving the state in droves.”

The Illinois House passed a bill introduced by Franks that would freeze property taxes non-home-rule units of government, a category which includes smaller municipalities and all school districts. The measure would allow an increase only if voters approved it. Franks is also pushing for a property-tax freeze statewide.

Opponents of a freeze fear local units of government would be starved of resources.

Franks said tough.

“There’s no reason that government should be immune to the economic realities its citizens face,” Franks said.

Franks said homeowners’ property taxes continue to climb even if their home value decreases.

CoreLogic says while most of the country pays just over $2,600 for a $200,000 home, Illinoisans pay over $5,300

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