ROCKFORD, IL - In response to declining home values and increasing property taxes across Illinois, State Representative John Cabello (R-Machesney Park) filed legislation that would freeze property tax increases for five years.
“Illinois ranks among the 10 states with the highest property tax rates,” said Cabello. “Factor in the 67 percent tax income tax hike two years ago, and it is no surprise that Illinois families are struggling. We need to do our part to make sure they are not taxed out of their homes.”
As Cabello’s first bill filed in the Illinois General Assembly, House Bill 1521 would place a five year freeze on raising property taxes by requiring that any increase or decrease in the taxpayer’s bill would only be founded on a change in the value of the property.