Yingling Introduces Legislation to Lower Property Taxes
02/26/2021ROUND LAKE BEACH, Ill. – As part of his continued efforts to lower property taxes for residents, state Rep. Sam Yingling, D-Grayslake, introduced legislation to raise the maximum reductions for two property tax exemptions and provide more financial assistance to middle-class families.
“High property taxes have been a major burden on residents for far too long, but the financial hardship it places on middle-class families has been further exacerbated by the COVID-19 pandemic,” said Yingling. “Now more than ever, residents expect that Springfield provides them with the relief they have long deserved, and I will work with my colleagues on both sides of the aisle to ensure that happens.”
Yingling’s measure, House Bill 333, raises the maximum reductions for the General Homestead Exemption and the Senior Citizen Homestead Exemption. Currently, the General Homestead Exemption, which applies to taxpayers whose property is their primary residence, allows for a maximum property tax reduction of $6,000 in Lake County, while the Senior Citizen Homestead Exemption, which applies to taxpayers 65 years of age or older whose property is their primary residence, allows for a maximum reduction of $5,000 in Lake County. House Bill 333 would increase these maximum reductions in Lake County to $12,000 for the General Homestead Exemption and $9,000 for the Senior Citizens Homestead Exemption, lowering the property tax bill for many Lake County residents.
Since entering the General Assembly, Yingling has fought to reduce property taxes. He was a co-sponsor of the Property Tax Relief Fund, which aims to increase the amount of relief homeowners receive from their homeowner exemption. He also regularly holds Property Tax Appeal Seminars throughout his district.
“Too often I hear how fed-up community members are with the property tax system,” said Yingling. “Lake County pays some of the highest property tax rates in the country, which is unacceptable. Middle-class families have consistently demonstrated that they cannot continue to handle this undue tax burden, and it needs to be fixed.”