The Illinois financial crisis: “Outside of unfunded state employee pension obligations, no other challenge facing legislators poses a greater threat to the state’s long-term prosperity”

CRAINS
The other financial storm threatening to capsize Illinois’ economy
by Joe Cahill
December 10, 2019

We’ll soon find out if Illinois lawmakers are serious about easing the state’s unsustainable property tax burden. As you may know, Illinois has the second-highest property tax rate in the nation, trailing New Jersey by just five one-hundredths of a percentage point. The pain has become so acute for homeowners and landlords across Illinois that Gov. J.B. Pritzker appointed a task force this year to study the causes and recommend solutions. The task force report is due Dec. 31, setting up possible legislative action on the issue when state lawmakers reconvene next month. READ MORE

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