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Saturday, August 10, 2024
Illinois now ranks as the least affordable state for housing in the Midwest, with 1 in 3 households paying more than 30% of their income for housing as property taxes continue to rise. U.S. Census Bureau data analyzed by the Illinois Policy Institute also shows that at least 15% of households pay upwards of 50% of their income for housing, rendering them by federal standards as "severely burdened." At the same time, data shows that the typical homeowner's property taxes have jumped by $756 since 2019, leaving the state home to the second-highest rates in the country. Rep. Dan Caulkins, R-Decatur, is sounding the alarm as property taxes are on the rise. |
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More Alternate links: Google News | Twitter "It's having a devastating effect and it's only getting worse," Caulkins told The Center Square. "We've seen our population decline and it's also a deterrent for new businesses to come to Illinois. In order to keep or attract businesses, we're having to give them all kinds of incentives. It's if you're taking money out of the left pocket and putting it in the right pocket and claiming that you're creating jobs." Comments
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