Chicago: That Taxin’ Town – City Journal
“During the past decade, Chicago’s commercial property taxes have jumped 93 percent. The city taxes commercial properties at 3.78 percent of their value each year—the nation’s second-highest effective tax rate and more than double the average for the largest cities in each state…Chicago can’t expect to attract new businesses while imposing oppressively high taxes. Fueled by unchecked local government spending, Chicago’s companies and iconic landmarks face a relentless, uphill financial battle. Business prospects will remain thin until the situation is addressed. “