Quote:
Originally Posted by sentinel
Found online, thought this belonged here, especially how Illinois compares to the rest of the country:
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Yeah, living in Chicago and dealing with income taxes isn't a huge deal, I actually think the states flat tax is a really good selling point.
When you want to buy a property and realize that 25% of your costs will be taxes each month, that's the issue. Also with a sales tax at above 10%, there is literally nowhere for the tax to go. What if we want to raise taxes for transit? Not going to happen. We are all topped out.
So the tax situation overall is poor but not horrible. Maybe the state could continue to improve its credit rating, lower property taxes and sale taxes while slightly raising the income tax rate to maybe a top rate of 8% or something.