-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Exactly how were these stats gathered? I don’t recall my race being listed on my tax bill.
Another example of stats being used to divide us.
Bah!
“In Chicago…..The median residential tax bill is $3,341, down by $1.63, or .05%.” Sounds like residential property tax payers aren’t paying their share. Chicago awarded raises for police, firefighters, teachers and other government workers. Their expenses clearly went up but yet their residential property taxes don’t reflect the increased costs. Until voters demand that their tax revenue match their desired spending they will continue to have problems. Median residential home prices over 300k and the median tax bill is $3,341? These taxes also include garbage service while people in the suburbs typically need to pay separate for that service. Chicago… Read more »
Exactly, 250k market value property taxes are $7,973.00 in will county we’re I reside and yes we pay separate for water and garbage pickup. If Chicago ever had a massive property tax increase to match the burbs omg. But what kills me is that people fleeing Chicago for the burbs don’t realize what there cost are gonna be.
Mine are exactly $7,082.28 on a $183,260 value in Rockford Tax rate 12.8584% on 1/3rd value. That home you describe in Rockford taxes would be $9,943.82. Total insanity on steroids.
When will it ever end Freddy this is about the end of the line for me and my wife. What is so disgusting and aggravating is I just paid my second installment for 2020 and the Joliet assessor Rhonda Novak just increased land and property values for all of Will County for 2021 due in 2022 therefore market value went up what in the hell are they doing with all this cares act monies that all are receiving on the local level county level and state level oh and the school districts. VVSD365U will receive about 24 million in cares… Read more »
You’d think I’m crazy but we moved to Sonoma County where the weather is beautiful. House prices are big but your property taxes are based on purchase price. Yes, the house was $800k but taxes are about $9k. Maybe we can oust the governor…at least I can golf year round.