Cautioning constituents to choose carefully in November’s election, District 46 state House candidate Heidi Holan recently deplored the plight of citizens struggling with “skyrocketing” tax bills despite stagnant incomes in response to Illinois’ financial woes.
WalletHub, which studies economic trends, determined that the state of Illinois has an overall tax rate of 10.19 percent, placing it squarely as the nation’s 10th highest. Its property tax category ranks even worse, as the second highest in the U.S., with only New Jersey scoring more poorly.
“These findings only confirm what Illinois residents already know,” Holan said. “Every day as I speak with voters at their doors, people tell me that they are struggling to pay property tax bills that continue to skyrocket despite incomes that have remained virtually flat over the last few years.”
While all property owners fork over more to the government than in previous decades, Illinois residential homeowners have carried more of the burden proportionately than commercial or government deed holders — paying a rate increase equivalent to 3.3 times that of median household incomes.
“As they watch Springfield continue its 15-year spree of deficit spending without passing policy reforms to reduce expenses, (voters) are concerned that the income tax hike hammer is about to descend,” Holan said. “Fear of an impending back-breaking tax hike is compounded by concerns that property values will then plummet and more companies will close their doors or leave the state, further shredding Illinois' economic fabric.”
Holan said that it would be in the state’s best interest to enact cost-reduction policies quickly in order to stabilize the economy. Voters, meanwhile, ought to choose legislators who understand the mechanics of a balanced budget, Holan said.
“It's basic math; $40 billion in expenditures doesn't equal $33 in income," she said. "It never has, and it never will. I urge voters to choose carefully on November 8.”