Villa Fights to Rein in Property Taxes, Secure Pensions for Local First Responders

SPRINGFIELD, Ill. – To help local residents take control of their property tax bills and ensure pension security for local police and firefighters, state Rep. Karina Villa, D-West Chicago, recently voted to consolidate the assets and management of more than 650 local police and fire pension systems into two systems.

“The immense property tax burden on local homeowners is devastating to middle-class families, and the current pension system is sinking and unsustainable,” said Villa. “I took action because I believe a pension is a promise. This legislation balances the needs of homeowners being crushed by skyrocketing property taxes with the needs of retired first responders who have kept our communities safe throughout their careers.”

Villa passed Senate Bill 1300, which would consolidate local government pension systems over a 30-month transition period, significantly reducing the financial burden on homeowners. The Villa-backed reform is a result of negotiations between local governments and local police and fire groups that will result in between $820 million to $2.5 billion in increased investment returns within the first five years.

“My legislation will eliminate duplicative services and cut overhead costs, which will reduce the property tax burden on local homeowners while also strengthening retirement benefits and securing pensions for our local first responders,” said Villa. “Part of my commitment to building a stronger Illinois includes delivering real property tax relief, and I will continue working to find creative solutions to put our state on more firm financial footing.”

“Consolidating the assets of the more than 650 downstate public safety pension funds throughout Illinois will help provide stronger investment returns for active and retired public safety employees and reduce redundant administrative costs on Illinois’ taxpayers,” said Illinois Municipal League Executive Director Brad Cole. “This is a good first step forward on the complicated and comprehensive issue of pension reform.”

For more information, please contact Rep. Villa’s constituent service office at 630-326-9319 or at StateRepKarinaVilla@gmail.com.