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.
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.