Taxes and Fees

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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.…

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Chicago's giant tax increase still won't eclipse the burbs

This article discusses reports that Mayor Emanuel’s proposed FY2016 budget will include a $500 million property tax increase for the City of Chicago. It cites information from the Civic Federation’s most recent…

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City of Chicago Releases Annual Financial Analysis for 2015

The City of Chicago recently released its Annual Financial Analysis for 2015. According to an…

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Emanuel projects $426 million shortfall — even with several rosy assumptions

This article reviews findings in the City of Chicago’s Annual Financial Analysis, released July 31. The Civic Federation said the only thing that can improve Chicago’s financial position is a comprehensive plan that relies on sustainable…

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Emanuel needs $754M more to make ends meet

This article examines the projected deficit of $426 million reported in the City of Chicago’s Annual Financial Analysis, which does not include additional…

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Chicago preliminary budget estimate shows huge shortfall

This article covers the $426 million budget deficit projected in the City of Chicago’s Annual Financial Analysis released July 31. The $426 million budget gap does not include nearly $550 million in additional contributions required by…

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Taxing the Cloud: Chicago Department of Finance Applies Existing Taxes to Streaming and Cloud Services

UPDATE: On September 9, 2015, a lawsuit challenging the streaming services was filed on behalf of seven plaintiffs against the City of Chicago. The plaintiffs argue that because they subscribe to various streaming services, such as Netflix…