SPRINGFIELD, ILL. (KMOX) – The Illinois Senate has approved a two year property tax freeze.
It applies to taxes collected for schools and local governments. Senate President John Cullerton says they can assess how schools are doing under the proposal and can re-evaluate when the time comes.
“And if we get a new funding formula, and we get the state back on track, and we stop spending an extra $7 and a half billion a year, then maybe in two years we can extend this freeze,” he says.
Governor Bruce Rauner has been pushing for at least a four year freeze, and State Senator Chapin Rose agrees.
“If we’re going to sit here for one minute and pretend that something’s going right here, it needs to be more than two years. You need a permanent increase in the income tax in two years, and property tax relief? Come on,” he says.
The legislation now moves to the House.