How an obscure Illinois estate tax can affect property owners | OurQuadCities

Illinois lawmakers are considering changing a lesser-known tax.

The estate tax kicks in when an individual inherits more than $4 million. In the state, there are family farms that fall into that category, but when the tax bill is due, the owners can’t pay it without selling assets. Most of the time, it’s because a good portion of the money from farms either goes into the land or crops.

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