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Friday, April 19, 2024

Halbrook calls for 'real change' on property taxes

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Illinois state Rep. Brad Halbrook (R-Shelbyville) | rephalbrook.com

Illinois state Rep. Brad Halbrook (R-Shelbyville) | rephalbrook.com

Times like these call for drastic measures in the state of Illinois, according to Rep. Brad Halbrook (R-Shelbyville).

“We absolutely have to address property taxes, and it’s gotten to the point where only lowering them will make a difference," Halbrook told the Chambana Sun. "Not even a freeze will do because they’re already too high. We need to be looking at things like the model in Indiana with [they have] the 1-percent hard cap on the value of homes. That would be a good place for us to start.”

As it is, a Federal Housing Finance Agency reports that over the last decade, average home prices in Illinois have dropped 21 percent while property taxes have climbed by at least 9 percent after adjusting for inflation. Even as the state continues to struggle in recovering from the last housing-market crash, Illinois Policy Institute also details how the drop in home values across the state is 300 percent worse than the national average.

“Property taxes are a major issue and one of the factors in driving people to want to live outside of Illinois,” Halbrook said. “The whole issue of property taxes will have to be addressed sooner rather than later. I believe a task force has been formed and I'm anxious to see what they do.”

Halbrook stresses that lip-service alone will not do.

“We can’t afford to just nibble around the edges,” he said. “We need real change and we need it now."

Illinois has seen its overall population decline in each of the last five years. Many argue that lawmakers' inability to reduce property tax levies after the recession ended has added to the problem by leaving a shrinking tax base to grapple with the effects of a rising tax burden.

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