Meet Jack Lageschulte, he’s the handsome one in the middle of the photo standing between me and HBAI President, Pat Franz. Jack was and still is a builder from Barrington. He was HBAI’s President in 1981, is a past President of HBA of Greater Chicago, and is in the HBAI Hall of Fame and the HBAGC Court of Honor.
Jack and I stay in touch and I send him our newsletters, so he can keep up with association goings on.
When he received our last appeal to contribute to HomePAC for my Century Ride, Jack decided to do more than just contribute. Jack took some of the content from my appeal, added his views on the matter, and sent it out to all his friends in his email group titled: “RWKJ.” It stands for Right Wing Knee Jerk.
Please read Jack’s letter and think for a moment about what he is saying here. If you agree with him, you may want to honor his request for four favors.
“I know you might not be living in Illinois. However, please read anyway.
I’m writing to ask a favor…actually several favors.
Illinois is in crisis!
We can’t pay our bills.
Our pension systems are “underwater.”
Chicago is the murder capital of the USA and is the only major city to lose population in the last decade.
As a result, the Chicago area is the only major area whose housing prices have not rebounded to 2007 levels.
With people leaving the state, there is virtually no new construction.
If the polls are accurate JB Pritzker will be elected Governor. The House, Senate, and Governor will be controlled by the Democrats (good or bad depending on your point of view)
According to a friend, the Democrats will have the ability to change the Illinois Constitution….and intend to do so.
Our Constitution requires a flat tax on personal income and business income tax at an 8 to 5 ratio. The Democrats want to change the personal tax from flat to graduated and do away with the ratio between personal and business taxes. (again,….good or bad depending on your point of view)
However, the State of Illinois is also contemplating a 1% statewide property tax to pay down the $203 billion pension debt. That’s $41,000 per Illinois household. Theoretically, the additional income will be used to put our fiscal house in order. (I for one do not believe much will go for debt reduction but rather for additional spending)
Presently, the average Illinois property taxes are about 2.25% (second highest rate…behind only the State of New Jersey) $6,750 on a $300,000 home (depending on School districts etc.) Under the proposed increase the new tax bill would be $9,750…a $3,000 increase!
As costs go up, real estate values go down!
Now the favors-
#1 VOTE – Election day is less than a week away.
#2 Pass this on to friends and family living in Illinois
#3 Call or write your State Senator or Representative and ask him or her to resist the proposed 1% real estate tax increase.
#4 Donate to HomePAC, the campaign arm of the Home Builders Association of Illinois. They will fight the Graduated tax plan and the Statewide Property Tax. Go to hbai.org to make your money fight for you!
Sorry if you receive this more than once.