Olsen Supports Compromise Property Tax Relief Bill

Today State Representative David S. Olsen (R-Downers Grove) voted in favor of a bill that will provide much-needed property tax relief to Illinois taxpayers through a two-year property tax levy freeze and increases to the residential and senior exemptions. After the 75-32-1 vote, Olsen released the following statement:

“The taxpayers of the 81st District pay some of the highest property taxes in the nation, and while SB 851 is not perfect, it is a small step that will provide my constituents with some immediate tax relief. Especially on the heels of the 32% income tax increase that was forced upon them earlier this year, the homeowners and businesses in our area will certainly appreciate this relief.”

“The two-year property tax levy freeze represents a good compromise, recognizing the concerns of both taxpayers and local governments. It will allow taxpayers to enjoy some tax relief without hamstringing local government for many years. In addition to the levy freeze, increasing the senior homestead exemption to $8,000 and the general homestead exemption to $10,000 statewide will offer tax savings to homeowners.”

“SB851 should only be a first step and there is much more work that must be done to permanently ease the property tax burden for residents and businesses. I look forward to working with my State legislative colleagues and units of local government to continue the conversation to find permanent solutions to Illinois government’s overreliance on property taxes.”

The bill now heads to the Senate for their concurrence.

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