(The Center Square) – An Illinois legislator says Illinois’ property taxes, which are second-highest in the nation, impact businesses much more than the uncertainty of tariffs.
A House Joint Revenue and Finance and International Relations, Tourism, and Trade Committee Hearing Thursday in Springfield delved into the impacts Trump administration tariffs could have on the state’s businesses.
Illinois Retail Merchants Association’s Rob Karr said retailers are at the end of the line for increased costs.
“And then the retailer has to throw in all the other costs they experience: labor, energy, property taxes are huge,” Karr said.
Every industry is impacted differently by tariffs, Karr said.
“But I think when you look at the broad base, I think we have to talk about wage and labor mandates, we certainly have to talk about property taxes,” Karr said. “Particularly, but not exclusively, in Cook County, it is becoming untenable for commercial and industrial enterprises as we’ve seen a huge shift.”
Others testified to the cost of building new homes in Illinois.
State Rep. Joe Sosnowski, R-Rockford, noted Illinois has the second highest property taxes in the nation.
“I find it, I guess, interesting that you’ve come to testify on the uncertainty of tariffs, which certainly affects your business, but we have huge drivers in your business that are not allowing you to grow, not allowing us to grow, not allowing us to build homes,” he said.
Sosnowski said it’s important to realize the costs on business that Illinois already levies.
“We’re here today talking about tariffs but, you know, there’s a lot of big concerns at the Illinois level, especially being No. 2 in property taxes, which I’ve got to assume hurts your business a heck of a lot more than the uncertainty of a tariff,” Sosnowski said.
Legislators return to the state capitol Tuesday.
