In addition to candidates’ names, Illinois voters will also see three advisory questions on their ballots.
One question would take a look at potential income tax reform, which its advocates like former Gov. Pat Quinn say is needed to fix a "upside-down" system.
“Right now, there are tax breaks for millionaires and tax bills, high property tax bills for everyday people,” Quinn said at a Capitol news conference Oct. 9. "That’s not a fair system."
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Here’s what you need to know:
What is the specific language that will appear on my ballot?
The question reads as followed: "Should the Illinois Constitution be amended to create an additional 3% tax on income greater than $1,000,000 for the purpose of dedicating funds raised to property tax relief?"
Why is the question being asked in the first place?
Gov. JB Pritzker signed legislation in May that placed the income tax question, in addition to ones regarding election interference and insurance coverage of reproductive services such as in-vitro fertilization.
It also gives lawmakers insight into what tax reform their constituents, burdened by the second-highest property taxes in the nation, want. Per the latest data from the Illinois Department of Revenue, the 3 million households paid $23.2 billion in residential property taxes in 2022.
Will passage of the measure have any impact on property taxes?
There will be no immediate impact if voters support the measure, however, it could shape another vote for a constitutional amendment as early as 2026.
Quinn cites data collected by the state revenue department and says the tax would collect an additional $4.5 billion in revenues if enacted. That money would go into the state’s property tax relief trust fund and be dispersed to homeowners in the form of rebates.
For those with incomes less than $1 million, there would be no change to their property taxes.
"Giving money back to homeowners in the form of a property tax rebate, they’re going to spend that money and generate economic activity for the benefit of Illinois," he said.
Have there been similar questions asked of voters?
In 2020, Illinois voters turned down a constitutional amendment that would have done away with the state’s flat income tax. It would have installed a graduated income tax instead, but after a battle of billionaires — Citadel founder Ken Griffin and Pritzker — it was Griffin in the winner’s circle.
Voters in 2014, however, did approve an advisory referendum that similarly placed a 3% tax on incomes exceeding $1 million to provide more resources to school districts.
Contact Patrick M. Keck: pkeck@gannett.com, twitter.com/@pkeckreporter.
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