Illinois is in a horrible cycle that keeps repeating. The state spends more than it has, then raises taxes to cover the difference. Rinse and repeat.
Rather than looking for ways to cut government waste, they just keep leaning on the taxpayers. It’s not fair and it’s causing some people to leave the state for greener pastures.
The Chicago Tribune reports:
Fed-up Illinois homeowners consider moving: ‘It’s not just the property taxes on my home; it’s all of them’
Even after watching Hurricane Irma wreak havoc on Florida, Rik Mallin is sticking to his plan.
Mallin is fixing up his Villa Park home so that he can sell it, move to the Florida Panhandle and escape Illinois’ rising taxes.
“I’m getting out,” said Mallin, 67. “It’s not just the property taxes on my home; it’s all of them.” He figures his taxes in Florida, where there is no personal income tax, will be about a quarter of what he’s paying now.
Mallin’s not the only one leaving the state. In 2016, Illinois lost 37,508 people, putting the state’s population at its lowest level in nearly a decade, according to U.S. census data. It was the third consecutive year the state lost more residents than any other state. The state’s population count for 2017 won’t be released until December.
Some of those who are leaving Illinois say they’re frustrated with their tax burden and the state’s financial situation. After going more than two years without a budget, Illinois lawmakers passed a spending plan over the summer, one that involved a 32 percent income tax hike for residents. The state is still digging itself out of the financial disarray that accumulated during the budget impasse. A Forbes listing of the best and worst states for taxes in 2016, before the tax hike, ranked Illinois 46th, signifying a heavier tax burden.
What happens when there aren’t enough taxpayers left to cover basic costs?