Legislative Issues Brief (pdf) - Illinois Association of REALTORS

Policy Statement Regarding Property TaxesThe Illinois Association of REALTORS® is a strong advocate for property taxpayers on a widerange of taxation and regulatory issues. We advocate for all types of property owners, in everymunicipality, every county, and every region of the state.As real estate professionals, we understand the complexities and variations of the property taxsystem in different regions of the state. For example, we understand that decreasing propertyvalues overall do not necessarily translate to a lower tax bill for all property owners. But ourclients and your constituents do not understand the complexities of the Illinois property taxsystem, and we are asking you as state leaders to think about property tax issues as part of yourpolicy considerations this spring.The REALTOR® organization has a rich history of dedicated involvement in real estate policyissues on behalf of our members and property owners at all levels of government. Weunderstand just how difficult and seemingly insurmountable it is to come up with passable“fixes” to the property tax system in Illinois. But our clients and your constituents do notunderstand these political realities, and are frustrated that we continue to live with what theysee as an unfair, unpredictable, incomprehensible, politically influenced process that stifleshome ownership as well as commercial and residential development.We also understand that issues like the state’s $96 billion unfunded pension liability, ourmassive budget deficit, and the contentious debate a court decision has sparked regarding the“concealed carry” of firearms, tend to crowd out other issues that are important but not animmediate crisis. Though the property tax issue may not seem the immediate crisis as some ofthese other issues, it is of no less significance to your constituents. Therefore, the IAR urgesyou to keep the property tax issue on your agenda, and to consider a pathway towardsestablishing greater fairness, predictability, and transparency in the Illinois property tax system.THE ILLINOIS ASSOCIATION OF REALTORS® PLEDGES TO SERVE AS A RESOURCE AND PARTNERWITH YOU AS YOU DEAL WITH THESE ISSUES, AND WE OFFER THE FOLLOWING THOUGHTS ASWE CONTINUE TO DISCUSS THIS CHALLENGING ISSUE:• First, do no further harm. There are proposals each year to make the tax system morecomplex, less transparent, and more prone to pushing property taxes upwards. Obviously,the discussion of pushing more pension costs off on property taxpayers concerns us. Butthere are also proposal to further expand exemptions from property tax caps and expandthe use of monies raised from particular levies. We urge you to not further exacerbate theproblem regarding property tax issues.