Courtesy of Illinois Policy Institute

Next week Illinois voters will decide the fate of property taxes statewide when they cast their vote for Amendment 1, the proposed change to the Illinois Constitution at the top of the ballot. Original research by the Illinois Policy Institute found Illinois residents can expect a $4 billion statewide property tax hike by 2026 if tax rates continue to climb at their current pace. Amendment 1 would lock in this increase, and likely drive taxes higher than that estimate as government unions gain power to make demands over a much broader range of topics and elected leaders lose power to slow the tax increases. Illinois’ total statewide property taxes are currently on pace to rise from an estimated $36 billion to $40 billion by 2026. These future tax increases will fall on both residential and commercial property owners. Of the $4 billion increase, nearly $2 billion will hit homeowners, while $1.8 billion will need to be covered by commercial properties. The remainder will come from farms, railroads and mineral properties.

What would Amendment 1 do?

• Allow government unions to use “economic welfare” to negotiate for seemingly unlimited provisions, which taxpayers would be forced to fund. 
Pass the cost of new government contracts onto local taxpayers through property tax increases, gas tax hikes, income tax hikes or other new taxes or fees. 

• Increase the rate of property tax hikes beyond the expected growth. The typical homeowner will pay over $2,100 more in additional property taxes during the next four years.

• Override 350 existing state laws, while preventing anyone from ever changing what can be negotiated. 

• Worsen Illinois’ business climate. Amendment 1 would likely increase taxes on Illinois businesses, deterring growth. 

To read more about Amendment 1, visit illin.is/lockedin