THE BEARS BAILOUT: THE SPRINGFIELD DEAL THAT COULD DOUBLE YOUR PROPERTY TAXES
THE BEARS BAILOUT: THE SPRINGFIELD DEAL THAT COULD DOUBLE YOUR PROPERTY TAXES
After failed negotiations with the Chicago Bears and mounting pressure from Indiana, Illinois leaders are rushing a megaproject bill critics warn could shift billions in taxes onto homeowners.
By Staff Writer
March 14, 2026
Imagine opening your property tax bill and discovering it has doubled.
Not five years from now.
Not because your home suddenly increased in value.
But because lawmakers in Springfield rushed to pass a massive tax break package tied to a last-minute effort to keep the Chicago Bears from leaving Illinois.
That is the scenario critics say could unfold if a controversial set of bills expected to move through the Illinois General Assembly next week becomes law.
At the center of the debate is a growing crisis in Springfield, one many say was entirely avoidable.
For months, Illinois leaders acted as if the Chicago Bears had nowhere else to go. Despite warning signs, despite mounting pressure from neighboring states, and despite the franchise openly exploring alternatives, negotiations between the Bears organization and state leadership failed to produce a deal.
Meanwhile, just across the border, Indiana officials were moving aggressively.
While Illinois leaders hesitated, Indiana leaders were meeting with team representatives, discussing stadium sites, and signaling a willingness to offer substantial incentives. What Illinois treated as a negotiation, Indiana treated as an opportunity.
Now the possibility of losing one of the National Football League’s most historic franchises has turned into a looming national embarrassment for Governor JB Pritzker and the Democratic supermajority that controls the Illinois legislature.
Suddenly, lawmakers appear ready to throw everything at the problem. Critics describe the response as bringing out the “kitchen sink.”
Next week, legislators are expected to consider a sweeping package of economic development legislation designed to keep the Bears in Illinois and attract large-scale development projects.
But opponents warn the proposal comes with a staggering cost.
The legislation would create special tax incentives for developments valued at more than $100 million. These projects could include professional sports stadiums, industrial complexes, technology campuses, and massive data centers.
While supporters say the incentives are necessary to keep Illinois competitive, critics argue the structure effectively shifts enormous tax burdens away from wealthy developers and onto ordinary residents.
Illinois homeowners already face some of the highest property taxes in the United States, a burden that has driven thousands of residents to leave the state in recent years. Illinois has also experienced one of the largest population declines in the nation, with rising taxes frequently cited as a key reason families relocate elsewhere.
Under the proposed megaproject incentive program, developers could receive property tax reductions of up to 99 percent by freezing the assessed value of their property.
In practical terms, that means a parcel of land currently assessed at $200 million could be developed into a $5 billion complex, yet still be taxed as if it were worth only $200 million.
Local governments would still be permitted to count the full value of the development as “new construction” under Illinois’ Property Tax Extension Limitation Law, commonly known as PTELL.
The math behind the proposal is simple. It is also alarming.
When a megaproject receives a massive property tax reduction, local governments can still collect the same amount of revenue. The difference does not disappear.
It simply shifts onto everyone else.
Homeowners.
Small businesses.
Local property owners who have no connection to the project.
In effect, the burden shifts dollar for dollar onto surrounding taxpayers.
Americans for Prosperity Illinois recently analyzed the potential financial impact of the proposal, and the numbers have alarmed many residents and policy experts.
What critics say the proposal could mean
• Megaproject developers could receive up to a 99 percent property tax reduction
• Homeowners could see property taxes increase by as much as 100 percent
• The tax shift could remain in place for up to 20 years
The numbers become even more concerning when applied to real communities.
If 25 percent of a district’s Equalized Assessed Value (EAV) is removed from taxation because of a megaproject incentive, other taxpayers could face a 33 percent property tax increase.
If 33 percent of a district’s EAV is excluded, the increase could reach 49 percent.
If 50 percent of a district’s EAV is removed from taxation, homeowners and small businesses could face a 100 percent increase in property taxes.
In other words, taxes could double.
Critics warn the financial shift would not be temporary. The burden could remain in place for as long as twenty years.
For many Illinois families already struggling with rising living costs, the prospect of another major property tax increase feels less like economic development and more like the breaking point.
One critic summarized the concern bluntly:
“The state dropped the ball negotiating with the Bears. Now they’re asking homeowners to pick it up and pay the price.”
Another policy analyst described the proposal even more starkly:
“This isn’t economic development. It’s a property tax shell game, and homeowners are the ones who lose.”
The legislative framework behind the proposal is contained in several bills currently pending in Springfield. They include House Bills 910, 4058, and 2789, along with Senate Bill 1514.
Together, the measures establish the structure for the megaproject incentive program. The bills would allow local governments to freeze property assessments for large developments, authorize financing tools tied to projected growth, and permit municipalities, counties, and school districts to count the full development value when calculating levy limits, even if the megaproject itself pays only a fraction of those taxes.
Critics argue the arrangement creates a massive imbalance.
Developers receive extraordinary tax advantages.
Government revenues remain intact.
The difference is shifted directly onto the backs of local taxpayers.
Some legal experts have also raised concerns that the legislation could violate the Uniformity Clause of the Illinois Constitution, which guarantees equal treatment in taxation. Under the clause, similar properties must be taxed in a consistent manner.
Granting megaprojects extraordinary tax reductions while forcing other property owners to absorb the difference could face constitutional challenges.
Still, the legislation is moving forward.
The pressure to act has intensified as the threat of the Chicago Bears leaving Illinois grows more real. Indiana officials continue to signal interest in hosting the franchise, and the possibility of the team relocating across state lines has put enormous pressure on Springfield leaders to produce a deal.
Across Illinois, residents are beginning to ask a simple question.
Are you willing to pay 100 percent more in property taxes to keep the Chicago Bears in Illinois?
In response to the proposal, Americans for Prosperity Illinois has launched a statewide petition urging lawmakers to reject the megaproject legislation and prevent what they describe as a massive tax shift onto homeowners.
Residents who wish to sign the petition or send a letter opposing the proposal can do so here:
Whether the legislation ultimately passes remains uncertain.
But one reality is already becoming clear.
The scramble to save the Chicago Bears may end up exposing Illinois taxpayers to one of the largest property tax shifts in state history.
If Springfield moves forward with the megaproject deal, the cost of keeping the Bears in Illinois may ultimately be paid by the homeowners who can least afford it.
Sources
Illinois General Assembly legislative filings (HB 910, HB 4058, HB 2789, SB 1514)
Americans for Prosperity Illinois policy analysis
Illinois Property Tax Extension Limitation Law (PTELL) guidance
Illinois Constitution, Uniformity Clause
Public statements and policy materials related to proposed Illinois megaproject legislationproject legislation
