Yingling Sponsors Compromise Legislation to Cut Property Taxes

SPRINGFIELD, Ill. – State Rep. Sam Yingling, D-Grayslake, sponsored and voted for a major property tax relief bill as part of a larger compromise urging Governor Rauner to end Illinois’ three-year budget stalemate.

“The governor has made a property tax freeze a pre-condition to negotiating on a state budget,” said Yingling. “I am offering the governor a compromise by going further and offering a plan that would actually cut Lake County’s sky-high property taxes. My constituents can’t afford the state to freeze their unaffordable property taxes at such burdensome levels when we could be working to meaningfully reduce them.”

The Yingling-sponsored Senate Bill 484 contains a four-year property tax freeze on all units of government, except the most financially distressed school districts. In addition, all Illinois homeowners would receive a roughly 15 percent increase on the general homestead exemption, reducing the property value that is subject to taxation. In addition, Senate Bill 484 further expands property tax relief provisions for seniors, veterans and people with disabilities.

Even though the legislation included a property tax cut, the bill received only one of the House’s 51 Republican members. The vote fell one vote short of passage.

“This property tax legislation had the opportunity to provide homeowners confidence that property taxes can decline, and that Illinois’ politicians can compromise,” Yingling continued. “While I am disappointed that governor and the Republicans did not support this common-sense legislation, I will continue to work towards compromising with the governor towards property tax relief and a budget.