Stimulus Update: Illinois to Send Property Tax Rebates to 6 Million Residents — Are You Eligible?

Ferrero KB, Bloomington, United States - 13 Jun 2022
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Despite the latest Consumer Price Index (CPI) posting a monthly decrease of 10.6% in the gasoline price index, the overall CPI-U (All Urban Consumers) increased 0.1% and inflation rose at an annual pace of 8.3% last month. Hikes in the price of food, medical care and shelter led the way.

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Many states continue to provide economic relief to residents through stimulus or rebate checks. On Sept. 12, Illinois’ state government began sending out one-time individual income tax and property tax rebates under Gov. J.B. Pritzker’s Family Relief Plan. But for those looking for a quick payout, you might have to wait up to two months.   

Millions of Illinoisans will receive rebates for either income and property taxes, or both, if they meet the set criteria of the plan. According to state comptroller Susana Mendoza, “A total of $1.2 billion dollars will be released over the next six to eight weeks to nearly six million taxpayers.”

While eligible residents may have to wait a bit to receive their rebate checks, Mendoza maintains that while the rebate process is a lengthy one, it remains on schedule.

“My office will be working diligently to get these rebates into the hands of taxpayers,” Mendoza said in a statement. “After all, it’s your money.” 

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Illinois Income Tax Rebate: Eligibility and Rebate Amount

Illinois taxpayers who made less than $200,000 filing individually (and couples making under $400,000 and filing jointly) will qualify for the income tax rebate, which is $50. Couples will receive $100. For those with dependents, an additional $100 is available for each dependent claimed on your 2021 taxes — up to three dependents for a maximum of $300, according to NBC Chicago.

The Illinois Property Tax Rebate: Eligibility and Rebate Amount

Homeowners may receive an additional rebate equal to the property tax credit claimed on their 2021 IL-1040 tax form, up to a maximum of $300. According to CNET, to be eligible for the property tax rebate, Illinois citizens must have paid state taxes last year — on their primary residence in 2020 — and must have an adjusted gross income (AGI) under $250,000 (or $500,000 for couples who filed jointly).

Per the Illinois Revenue site, you will automatically receive your rebate if you filed your 2021 IL-1040 (and Schedule ICR for the property rebate). For those who haven’t filed an IL-1040 form, you have until Oct. 17 to take advantage of these state-funded tax rebates.

The Family Relief Plan, which went into effect on July 1, 2022, also established relief tax suspensions on groceries and gas. According to the Illinois tax and financial consulting firm DHJJ, Gov. Pritzker’s Family Relief Plan means that Illinois’ 1% sales tax on groceries has been suspended until June 30, 2023, and its proposed fuel tax increase has been delayed until the end of Jan. 2023.

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“Income and tax rebates are on the way to ease the burden and provide support to families throughout the state,” said Lt. Governor Juliana Stratton in a statement. “Our administration cares and will continue to do all it can to make Illinois one of the best states in the nation to live.”

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To check on the status of your rebate or for more information on the Illinois Family Relief Plan, visit tax.illinois.gov/rebates or call 1-800-732-8866 or 217-782-3336.

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About the Author

David Nadelle is a freelance editor and writer based in Ottawa, Canada. After working in the energy industry for 18 years, he decided to change careers in 2016 and concentrate full-time on all aspects of writing. He recently completed a technical communication diploma and holds previous university degrees in journalism, sociology and criminology. David has covered a wide variety of financial and lifestyle topics for numerous publications and has experience copywriting for the retail industry.
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