It’s no secret that the financially troubled State of Illinois owes billions of dollars in unpaid bills. What is not as widely known is that the State also owes $730 million in corporate income tax refunds, according to the Illinois…
On August 5, the Civic Federation released its analysis of the FY2011 City Colleges Tentative Annual Operating…
This news segment details how the City of Chicago had only $2.7 million in reserves at the end of FY2009. The Civic Federation says the City should have cash reserves of at least $200 million given the size of its operating budget.
The Civic Federation will announce its support for the proposed $581.9 million FY2011 City Colleges of Chicago budget at a public hearing today. The Federation’s 41-page analysis found that the proposed budget plans a $3.0 million…
The Civic Federation supports the City Colleges FY2011 proposed budget totaling $581.9 million, which includes $454.4 million for the operating budget and $127.5 million for capital improvements. The City Colleges is proposing to reduce…
A tax increment financing (TIF) transparency bill (Public Act 096-1335) passed by the Illinois legislature in May and signed into law by Governor Pat Quinn on…
Updated August 5, 2010 to reflect revised data from the Illinois Department of Revenue CHICAGO – The full market value of real estate in Cook County was approximately $616.2 billion in tax year 2008 according to an annual estimate…
Despite a $2 billion drop in the State’s annual revenues in FY2010 , the General Assembly passed Governor Pat…
The Illinois Department of Revenue has announced that the tentative equalization factor for the Cook County 2009 property assessment year (taxes payable in late 2010) is…
The sales tax rate on general merchandise in Cook County declines by 0.5 percentage point on July 1, 2010. This rolls back half of the 1.0 percentage point increase imposed by the Cook County Board of Commissioners effective July 1,…
