Even though property taxes are imposed by local governments, Illinois lawmakers will work to come up with some reform ideas to benefit property owners throughout the state.
A new property Tax Relief Task Force is being formed as mandated by SB1932.
What the Task Force Hopes to Accomplish
As a state-issued press release explains, “The Property Tax Relief Task Force is a vital part of the fair tax package. Comprised of members of both legislative chambers and both political parties, the group will take a holistic approach toward analyzing the property tax system.”
The duties of the Task Force include:
- Examine the root causes of high property taxes in communities across Illinois.
- Assess other states’ legislative solutions to reduce property tax burdens in both the short and long term.
- Propose policy changes that will bring real relief to Illinois property owners.
The Task Force will be staffed by members appointed by the Governor; members from the House of Representatives, appointed by the Speaker of the House and the House Minority Leader; and members of the Senate, appointed by the President of the Senate and the Senate Minority Leader. Task force members will appoint co-chairs and shall serve without compensation.
The task force is required to issue reports to the Governor and the General Assembly with short- and long-term solutions for property tax relief and reform that can take an administrative, electoral or legislative approach.
The initial report will be produced within 90 days, and a final report will be due by December 31, 2019.