sales tax

An Illinois lawmaker is proposing a fee cut from the state's budget package, arguing there wasn't enough time to fully examine it as lawmakers quickly approved a budget to end the state's budget impasse.

Will the Cook County Soda Tax Trickle Downstate?

Oct 4, 2017

State Senator Chapin Rose says downstate Illinoisans should be concerned about Cook County’s controversial sales tax on sweetened beverages --- even though they don’t have to pay it.

City Council Grapples With Budget Shortfall

Oct 4, 2017

The city of Peoria faces a budget gap of about $5.5 million this year, a deficit that grows to nearly $8 million next year if no changes are made.

Peoria County 2018 Spending Plan is Balanced

Sep 29, 2017
Cass Herrington / Peoria Public Radio

Peoria County’s proposed budget for 2018 creates a surplus in revenue by the end of the year. But County Board Chairman Andrew Rand says while that may look good on paper, it’s no cause for celebration. 

City Council to Take up Portillo's Plan

Sep 11, 2017
Steven Lee / Flickr

The Peoria City Council Tuesday is expected to set in motion a process whereby a Portillo’s Restaurant will open next year in the city. Developer Willie Torchia has acquired the land at Sterling Avenue and Baumann Way, in front of the Westlake Shopping Center. He will spend about 700-thousand dollars to prepare the site and construct a building to lease to Portillo’s. He is asking the city to create a Special Service Area tax, where Portillo’s will add one additional percent to the tax rate on their sales. That money will reimburse Torchia for development costs.

The University of Illinois Flash Index measured the state’s economy for April at 104.3, down a tenth of a point from March.  Any number above 100 on the Index represents a growing economy.  Economist Fred Giertz, who compiles the Flash Index, says the last several months of slow growth in the state’s economy are a result of both negatives like the ongoing state budget impasse, and positives like a declining unemployment rate.

Cass Herrington / Peoria Public Radio

The Peoria County Board is slated to approve its 2017 budget tonight. The board has to fill a two-and-a half million dollar shortfall, for this year and next.

 

County Board Chairman Andrew Rand says fund reserves will be depleted in three years at this pace. He says expenses are outpacing revenues about one percent a year, compounded by declines in the major revenue sources of sales taxes, fines and fees.

Peoria Public Radio

Peoria Public Schools are preparing to sell $50 million in bonds to pay for a mighty list of school facilities’ improvements.

The bonds will be paid for with the revenue from the 1/2-percent sales tax increase Peoria County voters approved in Nov. 8 election. PPS' School Board approved the underwriting agreement with Stifel Nicolaus and Company, on a 5-1 vote.

Chief Financial Officer Mick Willis says he recommended the company because the way it structures the bonds will be beneficial to the school district.

Tanya Koonce / Peoria Public Radio

Friends of Peoria County Schools offered its first public forum last night at the Carver Center.

Tanya Koonce / Peoria Public Radio

Friends of Peoria County Schools launched its 'Vote Yes’ Campaign at Richwoods High School Thursday. Many of the 18 school districts within Peoria County were represented, along with State Senator Dave Koehler and the Regional Superintendent of Schools.

Andrea Tortora is managing the ‘Vote Yes’ Campaign. She says the 1/2-percent sales tax is needed in the face of underfunded state aid.

The Peoria Public School Board approved a $179 million operating budget for this academic year. The District 150 spending plan factors in a $4.4 million operating deficit.

The deficit gap is an improvement from initial budget estimates, due to a slight increases in state funding.

Superintendent Sharon Kherat says they continue to cut where they can.

Cass Herrington / Peoria Public Radio

Peoria District 150 School Board unanimously approved adding a tax referendum question to the November ballot.

The Peoria Public School Board approval was necessary to get the half-a-percent facilities-sales-tax question on the ballot, because it serves more than 49-percent of the county’s population.

Mick Willis is the District’s new Treasurer. He says the tax referendum question would mean an estimated four-point-two  million dollars toward District 150 facilities improvements:

Flickr Creative Commons/Brad Cerenzia

Illinois Gov. Bruce Rauner has signed a law eliminating sales taxes on feminine hygiene products.   The Republican signed the law Friday repealing so-called "pink taxes" on items such as tampons and menstrual pads. The change takes effect Jan. 1.

The Chicago City Council has rescinded a city sales tax on tampons and sanitary napkins.  The vote followed a recommendation that was made without opposition by the City Council's finance committee last week. 

An Illinois lawmaker wants to eliminate the state sales tax on feminine hygiene products.   Grayslake Democratic state Sen. Melinda Bush says tampons and other feminine hygiene products are not a luxury but a necessity.

Legislative analysts predict that Illinois revenue will grow only by $200-million this year,  less than 1%.   The bipartisan Commission on Government Forecasting and Accountability's figure is significantly lower than Gov. Bruce Rauner's prediction. 

Medical marijuana sales in Illinois picked up in January as more dispensaries opened around the state.  Seven new dispensaries joined the program last month, bringing the total to 28 shops.

Peoria County's sales tax revenue lags

Aug 31, 2015
Aranami / Flickr/Creative Commons

Online sales and big box chains across the river are hurting Peoria County sales tax revenue. That’s according to the latest 2015 financial report presented to a county budget committee last week.

County Chief Financial Officer Eric Dubrowski says the tax from online sales is distributed to Peoria County at a lower rate, based on a per-capita distribution. The County's revenue is based on its unincorporated population of 37,000.  

CHICAGO (AP) - Consumer taxes in Cook County will increase by one percentage point next year as a result of a vote by commissioners. The county sales tax is currently .75 percent and would rise to 1.75 percent. That would make Chicago's total sales tax rate 10.25 percent, among the nation's highest.

Illinois economy down slightly from last year

Sep 3, 2014

The Flash Index for the Illinois economy measured 106 in August, down slightly from July’s reading of 106.2. The Index has stayed within the narrow range of those two numbers for the past four months. 

Rauner releases plans to reduce income tax rate

Jul 21, 2014

Republican candidate for Illinois governor Bruce Rauner says he’s willing to negotiate with lawmakers on lowering the income tax rate. 

The Republican candidate for Illinois governor has some new details about what he’d do if elected.  Bruce Rauner Thursday, announced he wants to roll back the income tax, and in exchange, create dozens of new sales taxes. 

2014 is only halfway over, but Illinois' new fiscal year just began last week.  The state closed out its year with a billion-dollar growth in tax revenue.

Auto dealers push for change in law on car leasing

Nov 4, 2013

Auto dealers in Illinois are pushing for a change in the law on car leasing. Supporters of the plan say it would lower the cost of a lease, in some cases by sixty dollars a month. IPR'S Brian Mackey has more:

Under current law, when you lease a car, there's a good chance the company is collecting sales tax on the full value of the vehicle. Those companies, however, through a complicated system of dealer credits, might only pass on a portion of that to state tax collectors.  

Lawmaker wants to change how gas is taxed

Sep 10, 2013

As gas prices rise and fall, there's one constant. However much you pay to fill your gas tank, it's taxed. Several proposals would change how.  IPR'S Amanda Vinicky has more.    

In Illinois, gasoline is taxed twice, so explains Rep. Jack Franks, a Democrat from Marengo.

Peoria County voters approved a one percent sales tax increase to build the Peoria Riverfront museum in 2009.  Peoria Public Radio’s Alex Rusciano reports that both Peoria County Board members and the museum’s president have seemingly different views on dollars generated from the tax:

County Board member Steve Morris says museum president Jim Richerson brought up the quarter cent sales tax in March:

Peoria School District 150 says it wants voters to consider a one-percent sales tax increase on some retail sales.  Peoria Public Radio’s Alex Rusciano reports the District says new revenues are needed amid shrinking property tax and state aid funding: 

 District 150 is expecting a $10 million decrease in general state aid next school year.  District 150 also lost nearly four-million-dollars in property tax revenues the last two years.  Officials say that means less money for roof repairs, technology upgrades and health-life safety projects.  School Board member Rick Cloyd says he supports asking Peoria County voters to consider a one-percent sales tax increase: