Local State Sen. Neil Anderson (R-Andalusia) is pushing legislation designed to add relief for longtime Illinois residential property owners.
Senate Bill 1862 seeks to end property taxes for Illinois residents who have lived in and paid on residential property for at least 30 years.
Currently, Illinois residents on average pay in the neighborhood of 2.07% or almost $5,200 annually on real estate taxes based on a median home value of $250,000. Anderson says he is now focused on winning over Democrats to be cosponsors for the measure, which he argues would be in the best interest of every Illinois resident.
Anderson is the sponsor of the bill. He says he remains open to tweaks and suggestions in getting the measure over the finish line, adding he’s already started to get input from others and is convinced the more taxpayers that raise their voices on the issue, the better chance the measure will stand.
Senate Bill 1862 now sits in the Assignments Committee.