1,400% property tax hikes in Montgomery County on hold

Montgomery County notified some residents they will not be facing 1,400% property tax hikes as originally planned. The sticker shock stemmed from a 2007 law.

Montgomery County residents are relieved to learn the county is putting exorbitant property tax hikes, some as high as 1,400%, on hold.

Montgomery County Board Chairman Doug Donaldson announced property taxes hikes stemming from a 2007 law will not go into effect and that an ad hoc committee will explore the issue.

“While we believe the Supervisor of Assessments was following the timberland reclassification legislation from 2007, we also understand that applying the law could result in serious consequences in our county,” Donaldson said. “We heard that loud and clear, and we appreciate the efforts of those who took the time to express concerns.”

A 2007 law affecting assessed values on wooded areas never took effect in Montgomery County, which the assessor says drove up assessments.

Donaldson also noted the decision will give time for a statewide law to go into effect on Jan. 1, 2025, which calls for a study of Illinois’ property taxes system. Illinoisans pay the second-highest property taxes in the nation.

It doesn’t take a study to realize Illinois has the worst-funded pension systems in the nation, with state and local systems in the red by $142 billion in 2023. Amending the Illinois Constitution to allow for pension reform and raising the funding ratio so young workers have a secure retirement are required to fix the mess and avoid collapse.