Elmhurst Chamber of Commerce & Industry’s Board of Directors, in consultation with its Governmental Affairs Committee, is announcing its opposition to a property tax freeze, as proposed by Illinois Governor Bruce Rauner and the Illinois General Assembly.
Property tax is an essential revenue source for our local governmental bodies and a state-mandated freeze could result in millions of dollars in cutbacks and service losses.
To the extent that high quality local government services are critical to a thriving community, our Chamber considers these services essential to maintaining both resident and daytime population, land values and community investment.
Our Chamber, therefore, views a property tax freeze as a threat not only to those government agencies, but also to Elmhurst’s residents and businesses.
By state law (Property Tax Extension Law Limit or “PTELL) since 1991, Elmhurst’s governmental bodies already have been limited to a property tax increase to the lesser of five percent (5%) or the Consumer Price Index (CPI), which has hit three percent (3%) or greater only six times in 27 years and only once since 2006, wreaking havoc on their budgets.
During deliberating this position, our Chamber considered the responsibility elected officials at our local level—City of Elmhurst, Elmhurst Community Unit School District 205, Elmhurst Park District and Elmhurst Public Library—and serving DuPage County have shown in budgeting and maintaining accountable fiscal positions.
Our Chamber believes that public participation and the ballot box are proper forums to respond to elected officials who depart from the paths expected by their constituents.
Also, we believe there is no cause to impose an additionally-burdensome referendum process on local agencies providing essential and valuable services benefitting residents and businesses alike.
Finally, our Chamber believes any loss in government services will adversely affect perceptions of value—in owning a home, residing and working in Elmhurst.
300A W Lake St Suite 201, Elmhurst, IL 60126