How to Calculate an Effective Tax Rate for Your Community
Since the release of our 2012 Effective Tax Rates report on September 29th the Civic Federation has fielded many inquiries about how to…
Since the release of our 2012 Effective Tax Rates report on September 29th the Civic Federation has fielded many inquiries about how to…
Chicago-area public employee pension funding levels continued to decline in FY2012, with total unfunded liabilities for the ten funds analyzed rising to $37.2 billion from $32.0 billion in FY2011. On average, the ten funds analyzed had an…
The declining health of public employee pension funds throughout the State of Illinois is primarily due to two causes: inadequate employer contributions over a sustained period and recent investment losses. This blog will discuss the role…
This annual report compares effective property tax rates in the six-county region of northeastern Illinois…
The most basic question about a pension fund is whether its assets are sufficient to cover total liabilities incurred. In this blog post, we examine the aggregate pension liabilities and Other Post…
The difference between a pension fund’s assets and accrued liabilities is known as the unfunded liability. The unfunded actuarial accrued liability (UAAL)…
Unincorporated areas lie outside municipal boundaries. The residents and businesses located in these areas are usually provided municipal services such as police protection and building code enforcement by county government or special…
The Civic Federation today released its annual estimate of the full value of real estate in Chicago and the Cook County suburbs. After the rate of decline in estimated property values slowed for the County as a whole in 2011, the rate of…
This report provides estimates of the total market value of real property in Cook County from 2003-2012 and shows how property value is spread among the City of Chicago, the northern and the southern suburbs.The full market value of…
Second installment property tax bills for Cook County residents were mailed out this month, the third year in a row that they have been sent out on time. Between tax year 1977 and tax year 2011, second installment bills were sent out late…