Category Archives: Property Taxes

Senator Manar Puts Lipstick on a Pig

In today’s Crain’s Chicago Business, Senator Andy Manar wrote an article about Senate Bill 1, a bill creating a new formula for funding education based upon what is called the “evidence-based model”. Simply stated EBM is a 27-step formula that … Continue reading

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Don’t Stick the Locals With Springfield’s Problems

In my last episode of “Riding Shotgun With Steve”, I said I’d be in favor of getting rid of PTELL for education. Before the torches and pitchforks show up on my front lawn, I want to explain the reasons why. … Continue reading

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Giving Seniors a Break on Taxes

Illinois taxpayers get a bit of property tax relief through a credit off their income taxes equal to 5% of the taxes paid on their principal residences. For instance, taxpayers paying $5,000 in property taxes will get a credit against … Continue reading

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Putting the Brakes on Unfunded Mandates

The biggest issue in the past election was the out-of-control property taxes that are driving businesses and residents out of McHenry County and out of Illinois. I ran on a promise that I’d do my best to bring down that … Continue reading

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Education Part V: Property Taxes, the Well Has Gone Dry

“The State has the primary responsibility for financing the system of public education.” Constitution of Illinois, Article X, Section 1 Question: Why do property taxes keep going up? Answer: Because they can. Over the past several posts, I’ve discussed the … Continue reading

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Education Part IV: Poverty Grant and PTELL Subsidy, Why Do They Matter?

“The State has the primary responsibility for financing the system of public education.” Constitution of Illinois, Article X, Section 1 Until the turn of this century, the Foundation Level Grant was the primary component of state education support, and was … Continue reading

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Education Part III: PTELL Giveth and PTELL Taketh Away

“The State has the primary responsibility for financing the system of public education.” Constitution of Illinois, Article X, Section 1 THE GIVETH PART: The Property Tax Extension Limitation Law (PTELL) is designed to limit the increases in property tax extensions … Continue reading

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