I received my tax bill recently, and it is up 16% from the previous year. When I lived in Indiana, I paid about one-third of Illinois property tax for the similar property.
I am retired and my major source of income is Social Security benefits. From the current bill of $7,726.48, I learned some of those funds go towards pensions for public employees of school districts, etc. All of that will come from my own Social Security benefits, which is $1,264 a month. I live on a budget, and the property tax, which is growing every year (even if the assessment is “frozen” for seniors) is a real problem, especially with current inflation. All these people who receive public pensions, these benefits may exceed my Social Security benefits. Is that justice?
Another problem is the household income maximum of $65,000 for the freeze exemption. They did not change it for several years. That means, even under 3% inflation, it must be increased every year accordingly. For 2022 only, under 8% inflation, we should get maximum increased to $70,200, not taking into consideration the previous years, and the following years. Yes, we get cost-of-living adjustments for Social Security benefits, but it covers the Medicare annual raise and that is it.
I am sure a large part of county retirees has similar problems. I have mailed my questions to Michael Buehler, McHenry County Board chairman, two times using certified mail. I did not get any answer from him. That tells you how much does he care for the people.
Andrei Chugunov