Opening Remarks on the Illinois Circuit Breaker Program

Opening Remarks:

"Good Chairman, Sigcho-Lopez, members of the Chicago Housing and Real Estate Committee. Thank you for the opportunity to address this important issue today. I’m here to present the Illinois Circuit Breaker Program, a legislative initiative aimed at delivering meaningful relief to homeowners, non-homeowners, and renters alike—those who have borne the brunt of Illinois’ property tax crisis for too long."

Why I’m Here:

Illinois residents are struggling under an increasingly regressive property tax system. Last year, we saw significant spikes in the South Suburbs, where some taxpayers saw their bills double. Now, Chicago is undergoing reassessment, and neighborhoods like Pilsen are already experiencing tax hikes of 91 percent. These increases hit communities of color especially hard—Hispanic and African American families are facing unbearable tax burdens.

But this isn’t just about taxes; it’s about fairness. Right now, property taxes are divorced from a person’s ability to pay. While middle-class homeowners are spending up to 6 percent of their income on property taxes, the wealthiest residents are paying just 1 percent. This inequity is unsustainable, and it is forcing families out of their homes, renters to bear higher costs, and small business owners to reconsider their future in Illinois.

How the Circuit Breaker Program Helps:

The Illinois Circuit Breaker Program offers a simple, fair solution: it links property taxes to a person’s ability to pay. Under this program, no household—whether a homeowner or renter—would pay more than 5 percent of their income in property taxes. If your property tax burden exceeds this threshold, the state will issue a rebate for the difference.

This is about protecting families: homeowners will no longer have to worry about losing their homes due to skyrocketing tax bills, while renters will benefit from stabilizing property taxes that often drive up rents. Additionally, by providing relief, we’re creating an environment where communities can thrive instead of facing the constant pressure of rising housing costs.

Illinois has the second highest property taxes in the nation. A typical Illinoisan homeowner pays double the typical American homeowner according the 2022 census.

Illinois excessive reliance on property taxes make our tax code one of the 10 most unfair codes in the country.

Governor Pat Quinn, a long-time advocate for equitable tax solutions, has outlined similar strategies in his recent Crain’s Chicago Business column. One of his proposals, which I strongly support, is the establishment of a Property Tax Relief Fund. This fund was established in 2021 by the legislature. This fund would act as a buffer, ensuring municipalities have the resources they need while allowing the state to provide targeted relief to those most affected by property tax spikes.

Why We Need This Now:

We are at a critical moment. Property taxes have never been more disconnected from what Illinoisans can afford to pay, and the burden is only growing. The Circuit Breaker Program offers a clear pathway to restore fairness and stability. It’s worth noting that 30 other states already have some form of a circuit breaker in place, and it’s time for Illinois to follow suit.

With the Property Tax Relief Fund and the proposed constitutional amendment on the ballot this November, we have an opportunity to not just provide immediate relief but to create a long-term solution that links property taxes to what families can afford, no more, no less. This is about equity, fairness, and giving Illinoisans the security they need to stay in their homes and communities.