Rep. Jeanne Ives (R-Wheaton) wants the Illinois Department of Revenue to investigate every Illinois county to determine whether property assessments have been performed according to law.
“Illinois has the highest effective property tax rates in the nation," Ives said in a press release. "We just raised income taxes 32 percent when too many of our residents already cannot afford to live here. We need a system where residents can be assured that they will not be taxed out of their homes over time.”
Ives was spurred to action following testimony from a Perry County superintendent who told the House that the properties providing tax revenue for his district had not been reassessed in decades. Property valuation plays a role in the ongoing debate over school funding, as the amount of state funding for each district is determined primarily based on how much revenue it can raise through property taxes.
Rep. Jeanne Ives (R-Wheaton)
Ives noted a recent federal lawsuit from Coles County residents, who are arguing that the county is refusing to reassess properties that have lost value, leading to nearly $1 million in overpaid property taxes.
“The system we use to value real estate and establish property tax bills in this state is corrupt and broken,” Ives said in the release. “The evidence is overwhelming: it purposely mis-values your home. It needs to be fixed.”
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