Local Government Budgets
The Cost of a Two-Year Property Tax Freeze For Illinois Schools: Up to $830 Million
Release: June 23, 2017
Governor Bruce Rauner has made a property tax freeze a centerpiece of his demands for a full state budget, and the Illinois Senate passed a bill (SB484) that would enact a two-year freeze in May. But such a freeze, without provision for replacement revenue from the state, would effectively be a massive funding cut for K-12 education in Illinois.
UPDATED: Illinois Property Taxes
Release: May 14, 2015
This Issue Brief is an update to a 2007 Brief, and provides an overview of who pays property taxes in Illinois, the steps in the property tax cycle, and what property tax revenue is used for.