SPRINGFIELD, Ill. (WTVO) — Illinois voters could decide on increasing the state’s tax on millionaires, to help fund property tax relief.
Lawmakers have filed legislation calling for a referendum to be placed on the November ballot.
The plan would create an additional 3% tax on individuals whose income is above $1 million a year. The money would go toward helping Illinois homeowners pay their property taxes.
The House and Senate would have to approve the measure, and the Governor would have to sign it to make it onto the ballot.
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May 2, 2024 at 05:10PM
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