Illinois tax overhaul urged after nine month study
Gov elect George Ryan and the General Assembly receive a 25 page report from Gov. Edgar's Commission on Property Tax Reform. They call for a broad overhaul of taxes, noting an income tax swap for schools will fail without reform. Key figures Bert Docter and Tim Bramlet emphasize ongoing work and sharing findings with lawmakers and county officials. The report highlights Illinois reliance on property taxes, two tier Chicago Cook County structure, and the need to address barriers to a fair tax swap.
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Illinois tax swap for schools would worsen funding disparity
Springfield study concludes an income tax for property tax swap cannot be adopted without overhauling Illinois tax system. It warns such a swap would widen funding gaps among regions, especially hurting areas like the South Suburbs, and urges broader reform and revenue options. It notes 6,000 taxing bodies complicate school and local finance.
South Suburbs Need More Property Tax Reform in Illinois
The Governor's Commission on Property Tax Reform states the South Suburbs face greater need for reform than other areas. It notes high tax rates and a declining base in Cook County, with $18 per $100 assessed value in some suburbs, and outlines eight principles for any statewide overhaul while discussing school funding and local property tax shares. The Chicago Southland Chamber of Commerce backs a school funding swap proposal, proposing a 50 percent cut in education funding through property taxes.
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