Last Chance! - Bill Ward, HBAI Illinois is in crisis! What’s on the line in this election is Article IX, Section 3, Paragraph (a) of the Constitution of the State of Illinois, which states: “A tax on or measured by income shall not be at a non -graduated tax rate. At any one time there may be no more than one such tax imposed on corporations. In any such tax imposed upon corporations the rate shall not exceed the rate imposed on individuals by more than a ratio of 8 to 5” Next year, everyone knows there will be a constitutional amendment offered in the Illinois General Assembly that will delete “non-graduated rate” with graduated rates. But did you know too, that there will likely be in that same proposal, language to de-couple the individual income tax rate from the corporate income tax rate. What the graduated rates will be is anyone’s guess: lower for some, higher for others. But where the corporate income rate lands will be anywhere but down; and that is for certain. Now let’s throw in some other whoppers like taxing our automobile travel by the mile, and service taxes on home repair and remodeling. And, last but not least, a 1% tax on the assesses value of your real estate for the purpose of paying down our state’s pension debt. We can’t pay our bills. Our pension systems are “underwater”. Chicago is the murder capital of the USA and is one of the fewer major cities to lose population in the last decade. If the polls are accurate, JB Pritzker will be elected Governor. The House, Senate and Governor will be controlled by the Democrats (good or bad depending on your point of view.) Presently, the average Illinois property taxes are about 2.25% (second highest rate behind only the State of New Jersey) $6,750 on a $300,00 home (depending on School districts ect.) Under the proposed increase the new tax bill would be a $9,750… $3,000 increase! As costs go up, real estate values go down! What can we do ? #1 VOTE—Election day is less than two week away. #2 Call or write your State Senator or Representative and ask him or her to resist the proposed 1% real estate tax increase. #3 Donate to HomePAC, the campaign arm of the Home Builders Association of Illinois. HomePAC will fight the Graduated tax plan and the Statewide Property Tax. Go to hbai.org to make your money fight for you! - Jack Lageschulte 1981 HBAI President HBA PAC Pledge Local HBA PAC __$25 Annual donation __ $50 Annual donation __ $100 Annual donation __ $500 Annual donation includes 1 Gov’t Official Reception ticket ($250 Local; $150 State; $100 National) __ $1,000 Annual donation Includes 2 Gov’t Official Reception tickets and 3 PAC 50/50 raffle tickets. ($500 Local; $300 State; $200 National ) __ Other amount, based on suggestions above $___________________________________________________ _________________________________________________________________________________________________ Name and Company Name _________________________________________________________________________________________________ Phone and Email ___Amount enclosed (payable to Southwest IL HBA PAC) ___Invoice company 7
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