CHICAGO — Illinoisans can expect checks in the mail and reduced taxes at grocery stores and gas pumps as the latest state budget takes effect Friday.
The changes are a part of the Illinois Family Relief Plan that’s expected to save taxpayers $1.8 billion during a financially difficult time, Gov. JB Pritzker said in a statement.
Illinois’ 1 percent tax on groceries won’t return until next year. Gas taxes will remain, but they won’t increase for the next six months, according to the news release. These tax cuts are expected to save consumers $470 million, state officials said.
The state also plans to send more than $685 million in income tax rebate checks to residents and $520 million in property tax credits to homeowners, according to the news release.
People who make less than $200,000 a year or married couples making less than $400,000 can expect $50 per adult and $100 each for the first three dependents claimed on their 2021 taxes.
Homeowners whose gross income is lower than $250,000 individually or $500,000 for a joint filing will receive rebates for 5 percent of the property taxes they paid in 2021 and can expect checks up to $300.
The checks will be distributed automatically based on residents’ 2021 tax filings. Comptroller Susan Mendoza plans to cut the checks the week of Sept. 7 and expects distribution will take about eight weeks, according to the news release.
The tax relief plan also includes a Back to School tax holiday Aug. 5-14 when clothing and school supplies will be taxed at 1.25 percent instead of 6.25 percent, according to the news release.
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