(WSIL) -- Freezes on the gas and grocery taxes, as well as property tax breaks, begin in Illinois Friday.Â
Governor Pritzker announced the state's 1% sales tax on groceries is suspended through June 30, 2023 and the state's normally scheduled increase in the motor fuel tax will be delayed from July 1 to January 2023.
But how are residents actually going to be impacted?
This would mean the 1%Â grocery tax would be suspended for a year and the gas tax would remain the same. Annual property tax breaks up to $300 would be available to individuals earning less than $250,000 or $500,000 for couples filing jointly.
If you were to spend $100 a week on groceries, you would save $1 on your bill. According to , 14 states tax groceries, including Missouri (1.2%) and Tennessee (5.5%).
If you were fueling up, you also might save about $1 a month, if you fill up once a week. Pritzker’s plan would freeze the motor fuel tax at 39.2 cents per gallon. It was supposed to increase to 41.4 cents on July 1.
Pritzker said the state would make up for lost revenue from the grocery tax, which goes to local governments. The governor expects the state to have a $1.7 billion surplus at the end of this fiscal year in June.
