Yednock Aims to Provide Tax Relief Through Newly Established Property Tax Relief Fund

SPRINGFIELD, Ill. – Fighting to lower burdensome property taxes for Illinois Valley families, state Rep. Lance Yednock, D-Ottawa, is highlighting the new Property Tax Relief Fund that will offer homeowners rebates to lower their taxes.

“When I knock door to door, the number one issue I hear about is how high our property taxes are,” said Yednock. “I am happy to report that legislation I supported will offer families much-deserved relief with rebates over time. Lower taxes will help build a stronger middle class and a better Illinois for everyone, and measures like this one are finally steps in the right direction toward fiscal sanity and responsibility.”

Yednock supported Senate Bill 39, which establishes the Illinois Property Tax Relief Fund. This fund will provide annual property tax rebates for homeowners who qualify for a general homestead exemption. According to data from the U.S. Census Bureau, Illinois currently has the second highest property tax rate in the country. The amount of these rebates would be based on the amount of money available in the fund and the number of general homestead exemptions awarded in the state. The governor recently signed this measure into law.

“Property taxes are an expensive mess, but we can make government more efficient through consolidation efforts and increasing Illinois’ role in funding our local schools,” Yednock said. “These actions will remove the massive pressure put on homeowners that have been required to fund our local schools for decades and put on our state back on track.”