Lawmaker proposes property tax credits as housing debate continues
(The Center Square) – As state and local officials sound off on housing proposals at the Illinois Capitol, a state senator says it is time to take action on affordability and property tax relief.
Metro East Sen. Erica Harriss, R-Glen Carbon, announced a package of bills on Wednesday.
Harriss said Senate Bill 3959 provides a $500 tax credit for first-time home buyers.
“It can be carried forward up to five years. We know that the early years of a mortgage are sometimes the hardest, so this will help directly during those times,” Harriss said.
SB 3782 creates the Fairness in Property Tax Foreclosure Task Force.
Harriss said Illinois is the only state in the nation that has yet to comply with a Supreme Court ruling that governments cannot keep excess equity after a tax foreclosure.
“This task force will ensure that we reform the system responsibly and protect homeowners from losing the wealth they worked a lifetime to build,” Harriss said.
Harriss also introduced SB 3781, amending the Illinois Income Tax Act to make residential property taxes refundable.
Gov. J.B. Pritzker announced plans to address housing supply and cost when he delivered his budget address last month.
Pritzker was asked in Chicago last week about his proposal to make housing more affordable by giving the state authority over local land use.
“Tweaking local regulations, that’s really what we’re talking about, just to allow a little more in each neighborhood, in each area and at every level,” Pritzker said.
Peoria Mayor Rita Ali expressed opposition to the plan when she spoke in Springfield on Wednesday.
“Zoning and land use decisions are best made locally by the officials that are elected in these communities,” Ali said.
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