Illinois homeowners are subject to the highest overall tax burden in the country, including the second highest property taxes in the nation. They’re also weathering the largest permanent income tax hike in state history. As these costs rise, the value of homeownership in the Land of Lincoln falls relative to other areas, reducing demand for housing… Please click here to read Orphe Divounguy’s story in Illinois Policy.
However, some tax relief may be on the way for homeowners according to the Tribune/Daily Southtown’s story by Mike Nolan, “South suburban schools in line for millions in state grants, would need to abate taxes:”
Several south and southwest suburban school districts are in line to receive millions of dollars in state grants, provided they abate similar amounts in property taxes, according to the Illinois State Board of Education. They’re eligible for Property Tax Relief Grants, part of the state’s reworking of how the state funds public schools, but as the name implies, the grants require districts to provide tax relief to taxpayers in their districts in the form of property tax abatements.
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