ROCKFORD -- Rep. John Cabello(R-Machesney Park) has filed legislation which would freeze property tax rates. House Bill 1521 is designed to prevent the recent practice of cities and school boards raising rates on property taxes to make up for the declining value in homes values, which can serve to maintain or even increase property taxes even though a home's value may have declined.
"Illinois ranks among the 10 states with the highest property tax rates," said Cabello said in a news release. "Factor in the 67 percent tax income tax hike two years ago, and it is no surprise that Illinois families are struggling. We need to do our part to make sure they are not taxed out of their homes. When property values decrease, taxing bodies can increase rates to make up for the lost revenue allowing them to try to squeeze every last nickel and dime out of homeowners. I want to put a stop to those unfair practices."
Such a bill would likely face opposition from most governing bodies which rely on property tax revenue such as municipalities, schools, and even park districts. Those which have implemented tax rate increases say they are needed to pay for essential city services.