Sangamon Sun

State Representative Mike Coffey recently appeared on Sports Radio 1450 with Brad Wike and his son Matt to discuss pressing issues facing Illinois. The conversation took place at Peerless Cleaning & Restoration Services, a local family business. Rep. Coffey emphasized the importance of government providing quality service to businesses, starting with lowering property taxes.

Coffey addressed the significance of manufacturing jobs in Illinois and advocated for policies that support business growth. "Businesses are fleeing Illinois due to high taxes, unnecessary regulations, and corruption. As a small businessman, I support policies that make Illinois a better place to start a business and grow a business. We must create long-term opportunities for economic growth that benefits businesses and workers," he stated.

A study by Wallet Hub released in February 2024 highlighted that Illinois has the second-highest property tax burden in the country, with a statewide rate of 2.23%. This high tax burden contributes significantly to the overall financial strain on Illinois residents. Despite this, Rep. Coffey criticized the majority party for not addressing these high property taxes and instead focusing on expanding social programs without adequately funding education and local governments as promised in the 1970 Illinois constitution.

Rep. Coffey supports several proposals aimed at reducing various taxes, including property, sales, income, and fuel taxes. However, he noted that Democrats have not called these proposals for a vote and have instead opted for nearly $1 billion in tax hikes in the new State Budget.

Among the tax relief measures backed by Rep. Coffey are:

- HB1274: Increases the Senior Citizens Homestead Exemption from $5,000 to $8,000.

- HB3538: Removes the requirement for disabled veterans to submit an annual application for the homestead exemption.

- HB4716: Limits assessment changes resulting from reassessment in general assessment years to either 3% of the assessed value or changes in the Consumer Price Index over a 12-month period.

- HB4354: Caps year-to-year increases in homeowners' total property tax bills to no more than 5%, unless substantial improvements have been made to the home.