Governor's Veto Rewrite

I would like to hear our member's reaction to the news of the Governor's amendatory veto rewrite....

From CBS 2 Chicago

Governor Signs Property Tax Relief Bill
Veto Rewrite Would Give Homeowners A Break, Cost Big Business Big Bucks
Mike FlanneryReporting
(CBS) CHICAGO Homeowners in Cook County could be in line for some property tax relief. Governor Rod Blagojevich's plan would give individual homeowners a break, and cost big business big bucks.As CBS 2 Political Editor Mike Flannery reports, the governor signed his amendatory veto rewrite of the property tax relief bill in front of the North Side home of former firefighter Mike Vacala, his wife Linda and their daughter, Alexa."I believe it's good news," Vacala said. "It's something we need."The Vacalas said they paid $90,000 for their brick home about a dozen years ago. While sellers of similar houses nearby are now asking for $500,000, the Vacalas complain that soaring property tax bills have accompanied those soaring valuations. The governor's attempted rewrite of the legislation gives individual homeowners a bigger break on taxes, while socking it to property owned by business."Should big commercial developers pay more of their fair share in taxes, so that homeowners pay less?" Blagojevich said. "The answer is 'yes.'"To get a sense of the big money that is at stake in this pending battle, here are some key numbers: If the Illinois general assembly approves the governor's rewrite, a typical Lincoln Square neighborhood home would see its bill go down an extra $638 next year. Taxes on downtown's John Hancock Building would jump up $277,130; on Prudential Plaza, an astounding $534,782.Rep. John Fritchey noted that, if business interests succeed in killing the governor's veto rewrite, homeowners could end up with no property tax relief."He's running a very real risk of leaving taxpayers with nothing," Fritchey said. "And I can't believe that's in anybody's best interest."This fall's tax bills are currently expected to go out Oct. 15, payable Nov. 15.