CHICAGO – Homeowners statewide would receive relief from skyrocketing property taxes under legislation advanced through a House committee by state Rep. Michelle Mussman, D-Schaumburg, Thursday that would freeze property taxes and increase exemptions for single-family homeowners and seniors.
“Middle-class families and seniors throughout our communities are struggling to keep up with property taxes that go up every year,” said Mussman. “The governor has talked a lot about the need for property tax relief, and I agree. But we need more than talk. My bill holds the line on taxes and provides much-needed relief for homeowners, and it’s time the governor and members of the General Assembly get to work providing real tax relief.”
Mussman’s Senate Bill 851 freezes property taxes for all units of government in Cook, Lake, McHenry, Kane, DuPage and Will Counties for two years. During this time, homeowners would have to approve any proposed property tax increase. The freeze would be optional for all other counties. Additionally, the measure would provide relief to taxpayers by increasing senior-specific exemptions, as well as exemptions for every other homeowner. Under the plan, voters would have the ability to extend the freeze beyond two years.
Mussman’s bill was approved by the House Revenue and Finance Committee Thursday.
“I appreciate Representative Mussman’s efforts to make home ownership more affordable for seniors and families in our community,” said Hanover Park resident Keith Marvin, who testified in support of Mussman’s bill before the committee. “As a senior who lives on a fixed income, I came here today to speak out on behalf of my friends and neighbors who continue to face higher and higher bills. With property tax rates increasing faster than inflation, nobody should have to consider leaving a community they care about because their property taxes are simply too high.”