SPRINGFIELD (WGEM) – Former Illinois Gov. Pat Quinn (D) returned to Springfield Wednesday to campaign, but not for elected office. He’s trying to convince voters to vote for a non-binding referendum asking whether the state should raise taxes on incomes over $1 million to pay for property tax relief.
“It’s time to really do something significant about the property tax system in our state,” he said.
According to a WalletHub study released Feb. 20, Illinoisans pay the second highest property taxes in the U.S. Only New Jersey residents pay more.
The referendum is non-binding. That means state law will not change even if it passes. The proposal is asking whether voters would like to see the state raise taxes from around 4.95% to 7.95% on incomes over $1 million. The money generated from the new tax would be put into a property tax relief fund and would be used to give homeowners annual rebates.
Quinn said the Illinois Department of Revenue estimates the tax would raise $4.5 billion annually.
“The property tax relief amendment is, I think, is a very important opportunity for the people of Illinois who have long been hounded by an unfair property tax system that’s really bewildering. It’s confusing, it’s not based on ability to pay and it’s unfair,” he said.
Despite the proposed relief, not everyone’s on board. Speaking at a Sept. 26 hearing on the proposal, state Rep. Steve Reick, R-Woodstock, said it could hurt the state and potentially cause more people to leave Illinois.
“What you’re doing is memorializing in the constitution the fact that other people should be paying somebody else’s property taxes,” Reick said.
He thinks the state should prioritize spending on giving more money to local governments, which would allow them to reduce their property tax burdens.
Quinn believes the proposal is the quickest fair way to give people relief.
“There are tax breaks for millionaires and tax bills, high property tax bills, for everyday people. That’s not a fair system. It really violates a fundamental principle as old as the Bible, that taxes should be based on ability to pay,” he said.
Since the referendum is non-binding, voters cannot change the state’s tax laws this November. The Illinois Constitution only allows for one income tax rate across the board.
Quinn hopes the non-binding referendum will eventually generate enough momentum to get state lawmakers to put a constitutional on a future ballot giving voters the power to enact the proposal.
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October 9, 2024 at 04:19PM
