SPRINGFIELD, Ill. (WAND) — Illinois Senate Republicans are renewing their calls for property tax reform.

Affordable Housing

Democrats and Republicans believe the state should ensure access to housing loans, grants, and other assistance for buyers and owners located in community land trusts.

Caucus leaders told reporters in Springfield Thursday that Illinois should raise the income eligibility for the low-income senior citizen assessment freeze homestead exemption to $75,000 and tie future increases to inflation.

"Based on the rise in income, some of them will be falling off having that senior freeze," said Sen. Erica Harriss (R-Glen Carbon). "So, this bill will address that to keep some of our vulnerable seniors in their homes."

Sen. Chapin Rose (R-Mahomet) said lawmakers must pass a bill to cap the assessed value of properties at the rate of inflation. He argued Illinoisans should not have to see their property assessments rise higher than the rate of inflation. 

Rose stressed that high property taxes are a major issue for Illinois families, seniors and businesses.

"I represent 12 counties, most of which are along the Indiana border," Rose said. "When we try to bring businesses into Illinois, and their choice is Illinois or Indiana, we get killed every time on property taxes. We're like the second-highest state in the country for property taxes. This is a serious issue." 

Another proposal could allow taxpayers to receive a refund for any excess credit. In other words, people paying more in property taxes but less for income taxes would get a refund for the difference.

A law that took effect January 1 required an independent study of Illinois property taxes. The legislation allowed the Illinois Department of Revenue and Department of Commerce and Economic Opportunity to evaluate the fairness of property taxes across the levy, assessment, appeal and collection process. 

However, Sen. Jil Tracy (R-Quincy) said lawmakers cannot continue to rely on task forces and studies that fail to deliver tax relief for Illinoisans.

"The issue is real now. Why do we want to send another 100,000 people out of our state," Tracy asked. "Let's have property tax reform now."

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