Tag: Property Taxes
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CPS To Raise Property Taxes The Maximum
For the second year in a row, Chicago Public School officials under Mayor Rahm Emanuel will raise property taxes for schools to the maximum allowed by law, yielding the cash-strapped system $41 million. The 1.5 percent increase should cost the average homeowner $28 a year, school officials said Wednesday. via Chicago Sun-Times. Well isn’t this…
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City Hall’s New TIF Troubles
This story is actually from early April: According to a report issued today by Chicago Inspector General Joe Ferguson, a fluke of state law means that many neighboring business districts that collect an extra property tax to pay for security, advertising and the like actually have had to pay twice — once for security, et…
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FYI, You CAN Cheat on Your Property Taxes
Cook County Board President Toni Preckwinkle and Assessor Joe Berrios on Tuesday urged state lawmakers to give them more power to go after property owners who improperly claim tax breaks, saying they could recover more than $150 million in three years with the new authority. Under legislation pending in Springfield, counties could go after back…
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How Retirement Benefits May Sink Illinois
We’re national news again. … Indiana’s debt for unfunded retiree health-care benefits, for example, amounts to just $81 per person. Neighboring Illinois’s accumulated obligations for the same benefit average $3,399 per person. Illinois is an object lesson in why firms are starting to pay more attention to the long-term fiscal prospects of communities. Early last…