North, Northwest Suburban Cook County Homeowners See Largest Property Tax Increase in 30 Years: Study
The median homeowners in Cook County’s north and northwest suburbs saw their property tax bills rise 15.7% this year, according to a new study just released from Cook County Treasurer Maria Pappas’ office.
The study concludes that it’s the largest residential property tax hike for that part of the county in 30 years. The study also shows the tax burden shifting from commercial properties to residential properties, despite Cook County Assessor Fritz Kaegi’s initial campaign promises to shift things in the other direction. READ MORE HERE
Think tanks analysis of state’s fiscal health gives Illinois failing grade
(The Center Square) – A think tank that promotes fiscal transparency is giving Illinois a failing grade for its financial situation.
Truth in Accounting has released its 14th annual Financial State of the States report, which analyzes the fiscal health of all 50 states based on fiscal year 2022 annual financial reports.
Like many states, Illinois’s economic condition improved due to federal funding for COVID-19 relief and increased tax collections attributed to taxpayers’ pent-up tourism and purchasing demands. However, unfunded pensions and other employee retirement obligations continue to plague the state. READ MORE HERE
2nd gas tax in IL for 2023 to 45.4 cents per gallon. The tax was 19 cents before Gov. J.B. Pritzker and Illinois already imposed the fourth-highest motor fuel taxes in the nation.
AAA estimates more than 43 million motorists will hit the road for Independence Day weekend. For Illinoisans, it means paying some of the highest gas taxes in the nation on fuel averaging almost $4 a gallon.
July 1 means Illinoisans start paying an extra 3.1 cents in motor fuel taxes per gallon – the second hike this year – to a new total of 45.4 cents per gallon. The tax was 19 cents before Gov. J.B. Pritzker and state lawmakers doubled it and built in automatic increases in 2019. READ MORE HERE
IL Auto Insurance rate increases with major carriers an average of 18% to 20% in 2022/2023.
Texting and driving, legalizing marijuana and giving illegals permanent Driver’s Licenses cause an increase in accidents in IL and massive rate increases with auto insurance policies. Don’t let them tell you it is just the cost of parts to repair cars and trucks. READ MORE HERE
Governor Pritzker signs 561 bills in first year from the Democratic Controlled IL State Legislature -
ILLINOIS GENERAL ASSEMBLY:
Governor Pritzker concluded acting on the 567 bills (347 House Bills/220 Senate Bills) forwarded to him from the 2023 Spring Legislative Session. The Governor signed 561 bills into law, amendatorily vetoed 3 bills, and vetoed 3 bills. The General Assembly will have the ability to address those vetoes (should they wish) during the upcoming Fall Veto Session scheduled for October 24-26 and November 7 – 9.
Legislative Democrats formed the Sustainable Fuels Caucus to address domestic energy supply needs, offer policy solutions to air and environmental quality issues and explore alternative energies. Members of the new caucus include Representatives Terra Cost Howard, Eva Dina Delgado, Dave Vella, Ann Williams and Dagmara Avelar and Senator Patrick Joyce.
Cook County Tax Resources:
Cook County Treasurer Reports - CLICK HERE