Homeowners group seeks tax cap on properties to help Illinois families
Tax relief may not on the horizon for some residents in Cook and collar counties under proposed tax legislation because Illinois has some of the highest tax rates in the country, according to the Homeowners Defense Association.
The HDA is asking for a tax cap that keeps property taxes at up to 1 percent of a home's value to get some much-needed relief, according to a press release from the group.
Close to 310,000 families within the Cook and the collar counties pay more than $10,000 each year in property taxes, yet they would not be able to take advantage of the benefits in the proposed Republican tax legislation it’s because Illinois has “the highest property tax rates in the nation,” according to the release.
Although $10,000 on a property tax bill could still be deducted, the proposed legislation states that state and local taxes would no longer fall under the umbrella of a deductible, the release said.
The areas most affected will be DuPage and Cook counties, which have 58,223 and 140,588 citizens, respectively, paying out more than $10,000 in property taxes each year, according to the release.