This blog examines some of the long-term obligations of the City of Chicago and its overlapping local governments using a per capita indicator based on bonded debt and unfunded pension liabilities. Rating agencies and other financial…
This report compares effective property tax rates in selected communities around metropolitan Chicago and finds that effective tax rates in 2010 for residential and commercial properties rose for each of the 32 municipalities studied.…
On July 1, 2008, a one percent sales tax increase went into effect in Cook County raising the home-rule tax from 0.75% to 1.75%. The increase brought the City of Chicago’s composite sales tax rate on general merchandise to 10.25%, the…
A look back at the Civic Federation’s blog this year provides a preview of upcoming fiscal challenges for local governments in 2013. Pension Funding The most urgent fiscal challenge for Illinois governments continues to be the pension…
Last week marked the end of the budget season for the nine local governments monitored by the Civic Federation. These governments include: the City Colleges of Chicago, Chicago Public Schools (CPS), DuPage County, City of Chicago, Cook…
UPDATE: House Bill 6253, which would lift the Illinois moratorium on Medicaid expansion for…
The Cook County Board of Commissioners approved the FY2013 Annual Appropriation bill (FY2013 budget) on November 9. The budget was approved with a 16-1 vote. The Cook County…
UPDATE: Cook County has received federal approval for a Medicaid expansion plan that is projected to bring in $99 million in net revenues in FY2013 and is a key component of the County’s FY2013 budget.The approval,…
The Civic Federation supports the Cook County FY2013 operating budget of $2.9 billion for its disciplined approach to significant budget challenges. The proposed budget holds the property tax levy nearly flat and marks the fulfillment of…
