No Reforms to Illinois’ High Property Taxes, But $300 Rebate Plan

No Reforms to Illinois’ High Property Taxes, But $300 Rebate Plan

S[RINGFIELD, Ill. – Illinois taxpayers who own real estate are in line for up to $300 back from the state. But there are no reforms to lower the state’s property taxes, which are second highest in the nation.

The one-time payment of up to $300 for eligible taxpayers is part of the budget package enacted this week. There’s no timeline yet on when checks from the state comptroller would go out.

The tax package says every individual taxpayer who owns property that files with the Illinois Department of Revenue (IDOR) before Oct. 17 is eligible.

The department must develop a process to claim a rebate. The overall rebates can total no more than $520 million.

More funds could be certified as needed, the measure says.

After the start of the fiscal year July 1, the law says IDOR will certify to the comptroller the names of eligible taxpayers and the amounts of the rebates. The comptroller then will cut the checks.

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