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New data highlighted by Illinois Policy Institute shows as
recently as 2023, homeowners across the state paid an effective
property tax rate of 1.83%, or in the neighborhood of $4,584
annually on a median-priced home of $250,000. Some argue high
taxes are spurring a still ongoing exodus from the state as
taxpayers seek refuge in places where rates are significantly
lower.
“We're driving ourselves in the ground and property taxes from
what I hear is the number one reason people leave the state,”
Ugaste, R-Geneva, told The Center Square. “We drive businesses
out. We keep investment from happening. We are killing ourselves
as a state.”
With most of the tax money being collected locally earmarked for
local pension liability as opposed to essential services, Ugaste
has introduced House Bill 9 as a potential solution. The
legislation is crafted to set aside a part of the state budget
for a grant fund to be given to school districts as part of a
goal of lowering overall property taxes.
“We don't need to be taxing our people at these rates in order
to pay for good services,” he said. “We are wasting way too much
money in this state. I have House Bill 9, which would have the
state take over a lot of the school payments that property
taxpayers are now paying without increasing state taxes. It
would have saved $2.8 billion in property taxes this year and it
would save $82.4 billion over approximately 21 years.”
Being home to rising sales and other taxes, and 3-in-5 Illinois
residents agreeing in a recent survey that they don’t feel the
value of public services they’re forced to pay for matches the
high property taxes pay, Ugaste is urging more of them to fight
back.
“They need to start holding elected officials responsible at the
ballot box,” he said. “Voters need to start paying attention to
what they're spending and hold them accountable and insist they
start reducing costs because we can.”
Over the last five years alone, data shows at least 420,678 now
former residents left the state.
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