On Tuesday, the Senate held a "Committee of the Whole" hearing in which testimony was received from tax experts, as well as education and local government representatives, on the status of the state's property taxes.
The Tax Foundation and the Taxpayers’ Federation of Illinois’ latest study, over a five-year period, indicates Illinois had the third-highest residential property tax rate in the nation, behind only New Jersey and New Hampshire. Some other recent studies show Illinois having the second-highest property tax rates in the nation.
Senate Republicans continue to stress that property tax relief is vital to keeping more families and businesses from leaving the state.
Senate Bill 1046 aims to freeze property taxes, permitting residents to select through referendum whether they want to increase taxes for education, libraries or other services. The bill also addresses many factors, including high costs at the local level.
Senate Democrats have rejected SB 1046.
Also on Tuesday, the Senate Judiciary Committee discussed workers’ compensation legislation. Senate Republicans argue House Bill 1287 fails to address the issues that contribute to Illinois having the seventh-highest workers’ compensation rates in the nation.
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