🔴 Major Taxpayer Concerns from Illinois’ 2026 Legislative Session.

Illinois families are once again left footing the bill after a legislative session that prioritized spending over real reform.

Here are the key concerns:

• Property taxes continue to climb. Illinois already has the highest effective property tax rate in the nation at 1.83%, with some Cook County suburbs exceeding 20%. Yet this session delivered no meaningful relief—especially for seniors on fixed incomes whose tax bills rise even when their income does not.
• Record spending passed without bipartisan support. Lawmakers approved the largest budget in state history—$55.2 billion—with zero Republican votes. Spending increased nearly 4% without addressing the structural issues driving long-term costs.
• Over $1 billion in stealth tax hikes were quietly included in the budget:
  – A new tax on sports betting (25–50 cents per wager)
  – Increased tobacco and vaping taxes (from 36% to 45%)
  – A “throwback rule” taxing out-of-state corporate sales
  – Higher corporate taxes on overseas income
• The Bears stadium megaproject raises concerns for homeowners. The proposal allows developers to lock in property tax payments for 25–40 years, potentially shifting the burden onto surrounding homeowners with no guarantee the Bears will remain long-term.
• Pension debt remains unaddressed. Illinois carries roughly $240 billion in pension debt, yet the budget underfunds required payments by $5.1 billion—pushing even greater costs onto future taxpayers.
• The rainy-day fund is dangerously low. Current reserves cover just 15 days of operations, far below the recommended 60 days, leaving the state exposed during an economic downturn.
• The transit funding crisis was ignored. Lawmakers failed to resolve the $770 million shortfall facing Chicago-area transit, setting the stage for future tax hikes or service cuts.
• School funding changes may increase property taxes. A $43 million reduction in property tax relief funding shifts more burden onto local taxpayers—even as Illinois already ranks among the highest in per-pupil spending.
  This session reflects a troubling pattern: spend now, squeeze taxpayers later. Without structural reform, Illinois families will continue to face rising taxes and growing financial uncertainty.