Gordon-Booth Votes to Pass Comprehensive Property Tax Relief Out of the House
04/07/2017
SPRINGFIELD, Ill. – Every homeowner in the state would keep more money in their pockets under a comprehensive tax relief package passed by state Rep. Jehan Gordon-Booth, D-Peoria, which increases the value of key property tax credits for families, seniors and veterans. While Gov. Bruce Rauner has discussed freezing property taxes, Gordon-Booth’s action goes further to actually cut property taxes and reduce the burden on local homeowners.
“Families in my community are sick and tired of being on the hook to pay outrageous taxes on their homes while large corporations and the super wealthy avoid paying their fair share,” Gordon-Booth said. “This measure would cut property taxes for all homeowners in Illinois and provide the most relief for those who need it most – our seniors, veterans and people with disabilities.”
Gordon-Booth co-sponsored House Bill 156, a comprehensive package of property tax relief measures that was approved by the House on Thursday. This measure provides homeowners with relief above and beyond the freeze discussed by the governor by increasing the value of key property tax exemptions that help homeowners reduce the taxable value of their homes and cut their tax bills. Beginning in 2018:
· All homeowners would be eligible for an annual $8,000 exemption on their primary residence;
· Seniors on fixed incomes would see lower property tax bills, as an exemption for homeowners over the age of 65 would increase from $5,000 to $6,000 annually;
· More veterans would be able to receive property tax relief, as returning service members certified 20-30 percent disabled who are currently ineligible for property tax relief would be provided a $2,500 annual exemption. All veterans over the age of 75 would be able to receive a $2,500 exemption as well.
This bill also creates a new property tax freeze for disabled homeowners receiving Supplemental Security Income from the federal government and expands tax credits provided to long-term homeowners.
“Too many families and seniors have been forced out of their homes because of high property taxes,” Gordon-Booth said. “This is a common-sense measure to help working people keep more of the money they earn in their pockets and to ensure that our community remains affordable for the families who want to live here.”
The property tax relief package received bipartisan support in the House, and now awaits consideration in the Senate.
“Families in my community are sick and tired of being on the hook to pay outrageous taxes on their homes while large corporations and the super wealthy avoid paying their fair share,” Gordon-Booth said. “This measure would cut property taxes for all homeowners in Illinois and provide the most relief for those who need it most – our seniors, veterans and people with disabilities.”
Gordon-Booth co-sponsored House Bill 156, a comprehensive package of property tax relief measures that was approved by the House on Thursday. This measure provides homeowners with relief above and beyond the freeze discussed by the governor by increasing the value of key property tax exemptions that help homeowners reduce the taxable value of their homes and cut their tax bills. Beginning in 2018:
· All homeowners would be eligible for an annual $8,000 exemption on their primary residence;
· Seniors on fixed incomes would see lower property tax bills, as an exemption for homeowners over the age of 65 would increase from $5,000 to $6,000 annually;
· More veterans would be able to receive property tax relief, as returning service members certified 20-30 percent disabled who are currently ineligible for property tax relief would be provided a $2,500 annual exemption. All veterans over the age of 75 would be able to receive a $2,500 exemption as well.
This bill also creates a new property tax freeze for disabled homeowners receiving Supplemental Security Income from the federal government and expands tax credits provided to long-term homeowners.
“Too many families and seniors have been forced out of their homes because of high property taxes,” Gordon-Booth said. “This is a common-sense measure to help working people keep more of the money they earn in their pockets and to ensure that our community remains affordable for the families who want to live here.”
The property tax relief package received bipartisan support in the House, and now awaits consideration in the Senate.
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