Illinois families pay some of the highest property taxes in the nation, placing a significant burden on homeowners, farmers, and small businesses. Rising property tax bills continue to strain household budgets and make it more difficult for communities to attract and retain residents and employers.
Rep. Mike Coffey believes Springfield must stop making the problem worse and start delivering real property tax relief. One of his priorities is restoring the Local Government Distributive Fund (LGDF) revenue-sharing rate to 10%, ensuring local governments receive a fair share of state revenues and reducing pressure on local property taxpayers.
Unfortunately, the FY27 state budget moved Illinois in the wrong direction by capping the LGDF share to just 6.23%.
“I’m extremely disappointed to hear about our state taking even more revenue from local governments to help fund a budget deficit. Capping the LGDF revenue share at just 6.23% will risk property tax increases for Illinoisans who already pay the highest rates in the nation. We must have a government that works efficiently and right now we don’t so it’s costing taxpayers even more and creating burdens on local municipalities.”
Rep. Coffey knows that it’s time to stop talking about property tax relief and start doing something about it and is fighting to lower property taxes statewide.
Through his legislation, Rep. Mike Coffey is fighting to make Illinois a more affordable place to live and work.
HB1496: The valuation of property in any general assessment year may not exceed 101% of the value of the property in the previous tax year if the property is residential. This bill caps home assessment valuations.
HB 4294: Increases the percentage of revenue allocated to the LGDF and provide more stability for local governments across Illinois.
HB 4354: Caps the increase in a total homeowners year to year property tax bill to no more than 5% unless the home had substantial improvements.