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Property Tax Bill for Businesses Awaits Governor's Signature

Updated: Friday, June 6 2014, 04:51 PM CDT
GIFFORD -- State Representative Chad Hays says there is already a law to help home owners with property taxes after a disaster but nothing to do the same for small businesses.

That is why he sponsored a bill that would help companies rebuild after tornadoes tore through the town of Gifford.

A new building usually means increased property value and increased property taxes.

According to Hays the bill would allow owners to gradually pay more in taxes; no more than four percent a year over fifteen years.

The bill cleared both the house and senate before the end of the spring session.

This was a bipartisan bill passing the house one-hundred and fourteen votes to zero.

Now it awaits a signature by Governor Pat Quinn.

Representative Hays sponsored the bill after seeing the need in Gifford after the November tornadoes but the measure would apply to any natural disaster throughout the state.Property Tax Bill for Businesses Awaits Governor's Signature


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