Quinn weighs-in on property tax issue

Apr 28, 2014

Illinois Governor Pat Quinn says he thinks he knows how homeowners could avoid higher property taxes.

Quinn’s comments come as Chicago Mayor Rahm Emanuel has said he wants to raise property taxes to help pay for pension obligations.

Quinn says he has a way to move cities away from their reliance on property taxes to fund services.

"I am very open to discussing with our local units of government a way to share some of the income tax revenue beyond what we are today in order to help them with their challenges," says Quinn.

Quinn wants to keep the state’s income tax rate at 5 percent. Income taxes are scheduled to drop to 3-point-7-5 percent next year.

Meantime, there is legislation on Quinn’s desk that would restructure retirement benefits for some Chicago city employees. Quinn wouldn’t say whether he plans to veto the legislation - even though Mayor Emanuel has said he’d raise property taxes to pay for the bills.