“Should the Illinois Constitution be amended to create an additional 3% tax on income greater than $1,000,000 for the purpose of dedicating funds raised to property tax relief?”
This statewide ballot question, dubbed by its supporters as the Illinois Property Tax Relief Amendment Referendum, has been pushed by former Illinois Gov. Pat Quinn. Other prominent and predictable supporters of this nonbinding referendum include U.S. Reps. Jesús “Chuy” García and Danny Davis.
These Democrats are linking the property tax crisis among the middle class in Illinois (specifically, the huge hikes in bills seen in the recently reassessed South and West suburbs in Cook County) with tax rates for high-income Illinoisans. By saying they are earmarking the potential revenue for property tax relief, they are disguising what otherwise is a simple state tax increase on high earners.
How much this endeavor would swell Illinois coffers is disputed, but WBEZ reported Thursday that the state’s revenue department has estimated it would raise $4.5 billion.