Suburban Democrats won't buck Illinois' statewide property tax hike proposal
While Republicans have publicly slammed a statewide property tax plan that could add thousands to Illinois homeowners’ property taxes, suburban Democrats have opted not to criticize the idea.
Proposed in May by the Chicago Federal Reserve, the statewide residential property tax of one percent could tack on an additional $2,500 annually for a home worth $250,000. This plan has been touted by some as the only way to generate the hundreds of billions in tax revenue it would take to pay the state's unfunded pension liabilities.
"Because the debt is so large, it’s unrealistic to think that new taxes (such as a tax on legalized marijuana or financial transactions) or increases that affect only a narrow segment of the population will be enough," the Fed's Thomas Hassl, Rick Mattoon and Thomas Walstrum wrote. "Illinois will have to find additional revenues from already existing tax bases, either by increasing rates, expanding the definition of what is taxable, or a combination of the two."
"Do Illinois homeowners have the ability to pay these larger tax bills? Our calculations suggest that, even under the best-case scenario, the additional tax bill is quite high, and some households would certainly struggle to pay it," they wrote.
The proposed increase would amount to a 43 percent increase on the average that Illinois homeowners pay, according to Crain's Chicago Business.
The plan could become a reality next year, if Democrats retain control of the legislature and Democrat J.B. Pritzker unseats Republican Gov. Bruce Rauner.
Wirepoints' Mark Glennon says the idea would tank Illinois' residential real estate market.
It surely ranks among the most blatantly inhumane and foolish ideas we’ve seen yet," he wrote. "Are they blind to human consequences? Confiscatory property tax rates have already robbed hundreds of thousands, maybe millions, of Illinois families of their home equity — probably the lion’s share of whatever wealth they had."
Following is a list of incumbent Democrats for House seats, along with their Republican challengers:
|19||Rep. Robert Martwick (D-Chicago)||Ammie Kessem|
|35||Rep. Frances Ann Hurley (D-Chicago)||Herbert Hebein|
|44||Rep. Fred Crespo (D-Hoffman Estates)||Katy Dolan Baumer|
|46||Rep. Deborah Conroy (D-Villa Park)||Gordon Kinzler|
|48||Terra Costa Howard||Incumbent Rep. Peter Breen (R-Lombard)|
|49||Karina Villa||Tonia Khouri|
|55||Rep. Martin J. Moylan (D-Des Plaines)||Marilyn Smolenski|
|62||Rep. Sam Yingling (D-Grayslake)||Ken Idstein|
|65||Richard Johnson||Dan Ugaste|
|70||Paul Stoddard||Jeff Keicher|
|85||Rep. John Connor (D-Lockport)||Lisa Bickus|
|98||Rep. Natalie Manley (D-Joliet)||Alyssia Benford|
|101||Jennifer McMillin||Dan Caulkins|
|107||David Seiler||Blaine Wilhour|
|109||Cynthia Given||Darren Bailey|
|110||Shirley Bell||Chris Miller|
|111||Rep. Monica Bristow (D-Godfrey)||Mike Babcock|
|112||Rep. Katie Stuart (D-Edwardsville)||Dwight Kay|
|113||Rep. Jay C. Hoffman (D-Swansea)||Doug Jameson|
|116||Rep. Jerry Costello (D-Smithon)||David Friess|
|118||Wes Sherrod/Samuel Stratemeyer||Patrick Windhorst|
In the Senate, here's a list of Democrats and their Republican counterparts, sorted by district:
|Senate District||Democrat Candidate||Republican Challenger|
|9||Laura Fine||Joan McCarthy Lasonde|
|23||Incumbent Sen. Tom Cullerton (D-Villa Park)||Seth Lewis|
|29||Incumbent Sen. Julie Morrison (D-Deerfield)||Barrett Davie|
|30||Incumbent Sen. Terry Link (D-Vernon Hills)||Soojae Lee|
|32||Mary Mahady||Craig Wilcox|
|45||David Simpson||Rep. Brian Stewart (R-Freeport)|
|48||Incumbent Sen. Andy Manar (D-Bunker Hill)||Seth McMillan|
|54||Brian Stout||Jason Plummer|
|56||Rachelle Aud Crowe (D-Glen Carbon)||Hal Patton (Conservatie Party)|
|57||Christopher Belt||Tanya Hildenbrand|