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Taxes and Fees

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Mayor's planned property tax breaks could hurt many renters, small businesses

This piece analyzes the property tax increase and corresponding homeowner exemptions proposed by Chicago Mayor Rahm Emanuel as part of the FY2016 City budget. The Chicago Tribune’s analysis concluded owners of large rental buildings and…

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Emanuel's Budget Includes Property Tax Hike, Ride-Sharing Fees

This segment and adjoining article examine the proposed City of Chicago FY2016 budget released September 22, which includes a property tax increase to address the City’s unfunded pension liabilities. The Civic Federation said…

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Mayor Emanuel’s budget includes massive property tax hike

This segment covers Mayor Rahm Emanuel’s FY2016 proposed budget released September 22, which includes a $543 million property tax increase phased in over four years, along with several other new targeted fees and taxes. The Civic…

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Chicago faces historic tax hike to fund mountain of debt

This segment reviews the property tax increase aimed at addressing Chicago’s underfunded pension systems that was proposed as part of the FY2016 City of Chicago budget released September 22. The Civic Federation said this tax increase…

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Chicago residents concerned about property tax hike

This segment covers the proposed FY2016 City of Chicago budget released September 22, which includes a $543 million property tax increase that would be phased in over four years. The Civic Federation said the increase won’t solve all of…

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Aldermen Sound Off on Potential Property Tax Hike, Other Fees

This Chicago Tonight segment features Chicago Aldermen discussing a reported $500 million City of Chicago property tax increase and other potential taxes and fees. It cites a September 8 City Club panel that featured Civic Federation…

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$66 million aldermanic menu program to survive Emanuel's budget ax

This article discusses the City’s aldermanic menu program, which allots each alderman $1.32 million annually for infrastructure projects in the alderman’s own ward. The Civic Federation said the City would be better served by a transparent…

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$500 million property tax hike 'not enough' to shed Chicago's junk bond rating, analysts warn

This article covers a September 8 City Club panel on Chicago finances that featured Civic Federation President Laurence Msall alongside Municipal Market Analytics Partner Matt Fabian, Crain’s Chicago Business columnist Greg Hinz and City…

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The Final 2014 Cook County Equalization Factor is 2.7253

The Illinois Department of Revenue announced earlier this summer that the final equalization factor for the Cook County 2014 property assessment year (…

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Emanuel: Record property tax hike tough but necessary

This article features several aldermen’s reactions to reports that a $500 million property tax increase will be included in Mayor Emanuel’s FY2016 proposed City of Chicago budget to fund increased pension payments and school construction.…