PEORIA, IL- Rep. Jehan Gordon-Booth (D-Peoria) is co-sponsoring legislation that would allow property taxes to be calculated beyond three decimal points, thereby saving money for taxpayers each year.

“Every year it seems that our property taxes continue to grow,” said Gordon-Booth. “This legislation will allow county assessors to more precisely calculate property tax bills and help homeowners save money.”

Property taxes are determined by local government units including cities, counties, school districts, and fire districts. The amount that homeowners pay in taxes is their equalized assessed value (EAV), which is 33 1/3% of their total property value. Currently, when calculating a homeowner’s EAV and their tax levy, the rate cannot be calculated beyond three decimal places, resulting in rates to be rounded up to the next percentage point.

House Bill 189 would allow county clerks to use more than three decimal places to calculate EAV for homeowners throughout their county. Not only would this increase the accuracy of resident’s tax bill, but it would also help save taxpayers money each year.

“As our communities continue to recover economically, it is important to do what we can to help control costs,” said Gordon-Booth. “That is why I support common-sense solutions, like this one, that brings more accuracy and accountability to our government. I urge the Senate to pass this measure and provide some relief for homeowners. ”

For more information, please contact Rep. Gordon-Booth’s constituent services office at (309) 681-1992 or by e-mail repjgordon@gmail.com.