Springfield, IL – Employers and civic groups across the state remain opposed to Chicago Mayor Rahm Emanuel’s proposal to shift the property tax hike burden onto employers and renters by doubling the homeowners’ exemption from $7,000 to $14,000. The Mayor’s proposal, if enacted statewide, would cause a chaotic patchwork of shifting property tax burdens on to employers and renters.
After withholding his legislative plan for nearly a month after presenting a budget that would further shift the cost of the largest property tax in Chicago history on to Chicago-area employers and renters by doubling the homeowners’ exemption, Mayor Emanuel just introduced an amendment to Senate Bill 1488, which could be voted on by the full house today, leaving everyone impacted with just hours to analyze and review. This is the same plan that Cook County Board President Toni Preckwinkle has unequivocally stated “we can’t do.” Such recognition from the Cook County Board President should give everyone pause and hesitation. If this plan was capable of being implemented, it would have been formally introduced in Springfield over a month ago.
It appears the Mayor’s plan will be applied statewide, which would wreak havoc on small and large businesses and their employees in addition to the overall economic climate of all communities throughout the State still recovering from the Great Recession.
The employer community is asking Mayor Emanuel to work in cooperation with those who are driving the economy on the fiscal challenges facing Chicago and allow those impacted adequate time to accurately analyze the property tax burden the Mayor of Chicago has planned to further shift on employers and renters throughout Illinois.
The employer community remains opposed to any plan from the Mayor of Chicago that would further shift the burden on to employers and renters through a doubling of the homeowners’ exemption.
Click here to view a fact sheet on why the employer community opposes this plan.
Building Owners and Managers Association of Chicago (BOMA/Chicago)
Chemical Council Industry of Illinois
Chicagoland Apartment Association
Chicagoland Chamber of Commerce
Illinois Hotel & Lodging Association
Illinois Chamber of Commerce
Illinois Manufacturers’ Association
Illinois Retail Merchants Association
National Federation of Independent Business
Taxpayers Federation of Illinois