- Property Tax Pledge Rhetoric Doesn’t Match the Reality –
In an effort to soften the blow of his broken promise to keep the income tax hike temporary, Pat Quinn tore a page from his old failed playbook by proposing a $500 property tax rebate for homeowners, but even that promise is already being exposed as insufficient.
Heard Similar Story Before
When Running For Reelection In 2010, Quinn Said He Would Only Raise Tax Rates By One Percent, And The Increase Would Pay For Education And Property Tax Relief. “[Quinn’s] current plan is to raise the rate from 3 percent to 4 percent, with the money going to education and property tax relief.” (Christopher Wills, “Quinn, Brady Both Vague On Ill. Budget Crisis,” The Associated Press, 9/16/10)
Quinn Promised To Push Legislation Requiring Local School Districts To Cut Property Taxes In Order To Receive Additional State Aid. “Quinn, speaking to agriculture leaders, said his proposal for an income tax increase would lead to lower local property taxes. Pressed afterward on how that would happen, Quinn said he would seek legislation requiring schools to reduce property tax bills before they could get additional state support. ‘I think it should be mandatory,’ the Chicago Democrat said. ‘I think if the state helps local schools with more money … it also means cutting local property taxes.’ Quinn hasn’t previously linked an income tax increase to property tax relief.” (Christopher Wills, “Quinn: Tax Plan Should Include Property Tax Relief,” The Associated Press, 8/26/10)
New Plan Not What It Seems
“Gov. Pat Quinn’s Plan Falls Short.” Refund Replaces 5 Percent Credit, Diminishes in Real Value Every Year. “Gov. Pat Quinn’s budget address should start a conversation about how to bring true property tax relief to Illinoisans. The $500 tax refund he proposed Wednesday is insufficient. The idea shouldn’t be dismissed, but it must be enhanced. Property tax relief ought to include more than a refund or a tax credit. A comprehensive relief package would limit property tax increases when home values are decreasing and contain a plan for turning around the downward spiral of home values that we’ve seen during the past six years. That $500 looks better on paper than it is in reality because it would replace the tax credit you get when you file your income taxes. The governor’s budget staff says that the typical Illinoisan will get more than double the tax relief under Quinn’s plan than from the tax credit, which puts the real amount of dollars in your pocket closer to $250. That’s not bad, but it doesn’t offset making the 5 percent income tax permanent. What’s more, a flat refund is of less value in Winnebago County — where property taxes are among the highest in the nation — than it is in areas where property taxes are not quite so out of whack. Property taxes will continue to go up during the five years Quinn proposes to offer the refund, so that $500 will mean less and less in terms of real value to homeowners every year. (Editorial, “Property Tax Relief? Gov. Pat Quinn’s Plan Falls for Short,” Rockford Register Star, 3/28/14)
CBS Chicago Video: “Is Quinnocchio’s Nose Growing?”:
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