Feeds:
Posts
Comments

Archive for the ‘Taxes’ Category

Some already looking at bans: ‘It’s just not for us’

Barrington area municipalities are starting to discuss whether to allow recreational cannabis-related businesses within village limits and if so, what regulations to impose ahead of the law allowing the sale and cultivation of marijuana in Illinois taking effect Jan. 

Lake Barrington officials are looking to adopt village legislation banning recreation marijuana-related businesses. Barrington is also leaning against having them, while both Barrington Hills and South Barrington are starting discussions.

Barrington village trustees and Village President Karen Darch are expected to start discussing in September what Barrington will do, officials said. Village spokeswoman Patty Dowd Schmitz said municipal leaders are leaning against allowing any kind of marijuana-related business.

Read more from the Barrington Courier-Review here.

Read Full Post »

State Rep. David McSweeney

Rep. David McSweeney, R-Barrington Hills, sponsored a bill signed Friday by Gov. JB Pritzker that gives the voters of McHenry County the power to dissolve the 17 townships that currently comprise the county.

The synopsis as introduced in House Bill 348 reads as follows:

“Amends the Township Code. Provides that the board of trustees of any township located in McHenry County may submit a proposition to dissolve the township to the township electors or township electors may petition for a referendum to dissolve a township. Provides for the transfer of real and personal property, and any other assets, together with all personnel, contractual obligations, and liabilities of the dissolving township to McHenry County.

Provides that all road districts wholly within the boundaries of the dissolving township are dissolved on the date of dissolution of the dissolving township and the powers and responsibilities of the road district are transferred to McHenry County, and provides that municipalities within the dissolving township may elect to assume the duties and responsibilities of the road district or road districts.

Limits extensions of specified property tax levies to 90% of the original property tax levy and within the boundaries of the dissolved township. Amends the Election Code and Counties Code making conforming changes.

Amends the Illinois Highway Code. Provides that any township in Lake County or McHenry County shall abolish a road district of that township if the roads of the road district are less than 15 miles in length.

Provides that the road district is abolished on the expiration of the term of office of the highway commissioner of the road district facing abolition following the determination by the county engineer or county superintendent of highways. Provides that the township board of trustees may enter into a contract with the county, a municipality, or a private contractor to administer the roads added to its jurisdiction.”

House Bill 348 took effect immediately upon signing and can be viewed here.

Read Full Post »

Hoffman Estates officials have scheduled a pair of meetings for local governments and the public to weigh in on a proposed tax incentive to encourage development on the north corners of the intersection of Higgins and Old Sutton roads.

The village is proposing the tax increment financing district for 24 acres at the northeast corner and 16 acres at the northwest corner, independent of any existing development plan — including the Plums Farms concept that’s been stalled for two years.

Including adjacent right of way, the proposed TIF district would cover 64 acres. Initial revenue from the TIF would pay for public utilities on the land.

A Joint Review Board made up of the local governments that would see their tax revenues affected by the TIF district is scheduled to meet at 9 a.m. Wednesday, Sept. 11, at Hoffman Estates village hall, 1900 Hassell Road.

Read more here.

Read Full Post »

Tucked on the outer edges of southern Cook County, suburban Park Forest was built to help answer a housing shortage in the 1940s as GIs flooded home from World War II. Before long, it became a model of suburban living, featuring enviable public schools and an attractive downtown shopping center anchored by a Marshall Field’s.

Today, the legacy department store is long gone. The high school, Rich East, is facing such low enrollment that it is being considered for closure. And, as of 2017, financially strapped homeowners were stuck with the second-highest property-tax rate in Cook County.

Among them is Ryan Dupée, who is being billed more than $3,800 in property taxes for a modest, ranch-style home he and his wife bought under foreclosure four years ago for just $25,000.

“It’s a shocker and it’s disappointing because your money could go to other things,” Dupée said, adding that while they aren’t paying a mortgage the property taxes are difficult for them to handle, especially since he’s between full-time jobs as a quality assurance auditor.

Read the full Better Government Association investigation here and realize what we already knew – it’s not just Barrington Hills. 

This story was co-published with Crain’s Chicago Business, as part of a Crain’s Forum project on affordable housing.

 

Read Full Post »

The effort to legalize recreational marijuana in Illinois was a hot and, at times, divisive topic for months, with opposition from law enforcement and ultimately bipartisan support from the state legislature.

Now, it’s the suburbs’ turn.

Elected officials in towns big and small are starting to decide if they want to open the doors to marijuana sales in their towns — and, so far, more are saying “no,” or leaning that way.

In Lake Barrington, Village Administrator Karen Daulton Lange said the board wants to preserve the village as a quiet community.

“Our residents have made it very clear that their desire is to maintain a peaceful atmosphere,” she said. “I don’t think our residents see marijuana sales as consistent with that atmosphere.”

Read the complete Daily Herald story here.

 

Read Full Post »

Democratic Gov. J.B. Pritzker has pitched his graduated-rate income tax plan by emphasizing that only a tiny sliver of Illinois residents would pay more if voters approve a change to the state constitution in November 2020.

Those residents, as might be expected, are concentrated in a handful of wealthy enclaves in the city and suburbs. In fact, a quarter of all taxpayers statewide who would be hit by the higher rates — those earning more than $250,000 a year — reside in just 15 of the state’s more than 1,500 ZIP codes, covering places like Lincoln Park, Wilmette, Barrington and Elmhurst, according to a Tribune analysis of Illinois Department of Revenue income tax data from 2016, the most recent year available.

Read the full Chicago Tribune article here.

Read Full Post »

Intent on making vacant land west of The Arboretum of South Barrington shopping center viable for development, Hoffman Estates officials may create a tax increment financing district to pay for sewer and water utilities on the site.

The land in question is a 24-acre parcel and a 16-acre parcel at the northeast and northwest corners of Higgins and Old Sutton roads. Along with adjacent right of way, a total of 64 acres would be included.

The development partnership behind Plum Farms dropped its request for a TIF district amid controversy over its plans for dense residential development, a proposal that drew objections from school officials and others.

Read more from the Daily Herald here.

Read Full Post »

Older Posts »

%d bloggers like this: