Linda Ekendahl has operated Edible Arrangement franchise stores in Illinois for 18 years. As her businesses grew over the years, she felt confident buying a brick-and-mortar location. But the reality of owning property in Illinois hit hard: She expected property taxes on her $320,000 building to cost approximately $19,000 a year. Instead, she received a property tax bill worth $29,000.
“$10,000 in unexpected costs really affects your bottom line,” she said.
Illinoisans already face the second-highest property taxes in the nation. This high tax environment drives up the cost of doing business in the state and adds to Illinois’ bad reputation for business growth. Now, a proposed constitutional amendment at the top of Illinois’ Nov. 8 ballot threatens to lock in rising property taxes and would likely make things even worse. It’s something the state can’t afford.
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