Bad News – J.B. Pritzker’s Mega property tax hike bill is advancing. If passed, your property tax bill could ‘double’. Small businesses, homeowners and renters…(yes, renters) will pay dearly.

The Democrat Chicago Bears Mega-project bill that will debated further in Springfield next week. It may result in your property taxes doubling …for 23 years (with extensions up to 40 years ) This will cause renters to see huge rent hikes as well, as landlords will be forced to pass along additional taxes paid to renters, 

[Q: Are you willing to pay 100% more in property taxes to keep the Bears in Illinois?]

The end of March is the deadline the Bears and Arlington Heights are giving to Democrats in Springfield to pass the legislation. The legislation would offer a huge tax break and other financial incentives to the Bears….and other big projects.

This bill goes well beyond a new Bears stadium, it would negatively affect any Illinois community (county, Township,
school district ) that has a project valued at over $100 million (Chicago Bears, industrial parks, data centers, etc.…) within its boundary.

Here are the numbers (Provided by Americans for Prosperity Illinois):

Mega-projects would get up to 99% property-tax reductions by freezing assessed values (e.g., a $200M parcel developed into $5B still taxed at $200M).

Local governments would count the full value as “new construction” under PTELL for levy ceilings and bonds, resulting in a dollar-for-dollar shift to non-project taxpayers- your home, your small business

Homeowner/Small business Property tax impact:

If 25% of the district’s EAV is excluded from taxation for a mega-project, other taxpayers could face a 33% property-tax increase.
If 33% of the district’s EAV is excluded from taxation for a mega-project, other taxpayers could face a 49% property-tax increase.
If 50% of the district’s EAV is excluded from taxation for a mega-project, other taxpayers could face a 100% property-tax increase.

The Illinois Constitution has a Uniformity Clause that guarantees “equal treatment” this Democrat legislation would violate that.

Americans for Prosperity Illinois will host a public forum on J.B. Pritzker’s Mega Property tax bill on March 30th where you can learn more.