2014 Data (Released 05/12/2015)

Financial State of Illinois

Press Release

Illinois owes more than it owns
At -$45,000, Illinois's “Taxpayer's Burden” ranks 48th out of the 50 states
Illinois is among 39 “Sinkhole States” without enough assets to cover its debt
Elected officials have created a Taxpayer Burden, which is each taxpayer's share of state bills after its assets available have been tapped
TIA's Taxpayer Burden measurement incorporates both assets and liabilities, not just pension debt
Illinois has only $29.5 billion of assets available to pay bills totaling $213.8 billion
To fill the $184.3 billion financial hole each Illinois taxpayer would have to send $45,000 to the state
The state's financial report was released 255 days after its fiscal year end, which is considered untimely according to the 180 day goal

Additional 2014 Analyses

Financial State of Chicago

Financial State of Chicago Public Schools

Financial State of Cook County

Financial State of Glencoe

Prior Years' TIA Data

2013 Financial State of Illinois

2013 Cook County Financial Report

Glencoe State of the Village 2011

Other Resources

Illinois Comprehensive Annual Financial Report

Publishing Entity: Illinois Comptroller

Civic Federation: Illinois Needs $9.4 Billion in New Taxes by 2019 to Survive

FEBRUARY 12, 2016 | WTTW

The Illinois budget situation has been bad for a long time, but the current eight-month budget stalemate has made the picture even bleaker: The Civic Federation is no bastion of liberal tax-and-spend policies - they are mostly a right-of-center organization made up largely of business leaders and for them to admit that new taxes are inevitable means the situation really is bleak. And they are proposing a host of them.