Education Matters US

So much for property tax relief. The Chicago Tribune has done an analysis of the tax swap bills (HB755/HB750/SB750/SB1484). This analysis shows that on average there will be a 20% increase in your combined property tax and income tax bills if this is passed. Now you can see why it is so important to kill this bill. Read the full article here.

Beware, the tax man cometh:

For example, affluent homeowners in Chicago’s Loop could expect a combined tax hike of 40 percent or more, while property owners in trendy city neighborhoods and North Shore communities could see increases of more than 25 percent, the analysis found. Homeowners in Chicago’s suburbs would take less of a hit if the tax reforms take effect, the Tribune found, while well-to-do-singles who don’t own homes–and wouldn’t receive a property tax cut–would see tax increases of more than 50 percent.

Politicians at work:

Under the proposal, next year the relief grants would equal 30 percent of total property taxes levied in the 2001 tax year. But because property taxes have increased since then, property owners could expect to see about a 25 percent reduction in school taxes on next year’s bills, according to state Revenue Department estimates.

You can see here that this is a scheme. The so called property tax relief goes back to the tax amount you paid in 2001. You can see why the actual percentage is lower than 30%. Your house value has increased since then. This is how you sneak up on the taxpayer. They won’t find out this fine print until it’s too late most of the time.

Jeff Mays, president of the Illinois Business RoundTable, said if the state is going to raise taxes for schools, it also should make sure the extra money is spent wisely. “If we have goals in education, we ought to make sure we’re moving toward them,” Mays said. The legislation also would raise the corporate income tax to 8 percent, from 4.8 percent, as well as provide business property tax relief. “I want to make sure that whatever taxes we’re raising can be justified and sustainable,” May said. “I want them attached to the goals this state embraces.”

Again, do you see that this plan just doles out our money to the school districts with no accountability as to how it is to be spent and what goals it is required to achieve.

Here are a few of the towns in CCSD #46:
60030 Grayslake/Hainseville/Third Lake – Percentage increase: 11.4%
60073 Round Lake/Round Lake Beach/Hainseville – Percentage increase: 9.8%

Calculate your increase for your zip here or click the chart below to see Cook and the collar counties at a glance.

What can you do to help stop this? Go here and here for directions.