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Candidates for Governor Have Own Ideas about Property Taxes
(IRN)-Each of the major candidates for governor has a plan to ease property taxes.

The plan from the Republican, State Senator Bill Brady, depends on state revenue growth being siphoned away. He calls his ides the "property tax education trust fund." It would send 10 percent of state revenue growth to county treasurers to apply against school district tax levies.

But Democratic Governor Pat Quinn says that plan provides little in the way of relief, while state budget cuts Brady proposes will cause school districts to raise property tax quite a bit more.

"I think the people do not want a Senator Brady plan that's at war with the fundamental laws of arithmetic," Quinn said.

Quinn proposes an income tax increase, with some of the proceeds going to schools, and some to property tax relief.

Both candidate' plans are unrealistic: Brady is promising a balanced budget and tax cuts; he is billions short of meeting that goal even without forfeiting 10 percent of state revenue growth. The Quinn tax increase would produce an estimated $3 billion in revenue, half of what's needed to meet the state's budgetary needs, and then he gives away $1 billion of that in property tax relief.

(Illinois Radio Network)
10 25 10 by Newsroom
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