Commercial property tax increase OK’d to fund Mag Mile security improvements – Chicago Sun-Times*

The special service district will be in place for three years, and the service tax is applied only to commercial buildings within the district boundaries. That tax will not exceed 0.05% a year on the equalized assessed value of the taxable property. It’s expected to bring in about $742,000 a year, with about $472,000 if that going toward public safety initiatives.
4 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
The Paraclete
4 years ago

This hilarious, notice the similarity in the numbers. Some idiot couldn’t figure out a BS formula so they just transposed some numbers.

ConcernedExpat
4 years ago

Let me get this straight: bad policies (defunding police, cashless bail, etc) have led to bad outcomes for retailers on Michigan Ave and the remedy to that is to tax them more to protect them from the bad policies these democrat politicians put in place? But sure go ahead and keep voting democrat, let me know how that works out for you.

NoHope4Illinois
4 years ago
Reply to  ConcernedExpat

Putting the National Guard out on Michigan Ave would be more effective, and cheaper. But with higher taxes in a special use district, their should be opportunity for some grift for Democrats.

Freddy
4 years ago

Here’s a novel idea that city leaders should but will never consider instead of increasing taxes. Use the TIF money that is allocated to every political pet project under the sun except for what it was intended for. If I’m not mistaken the Willis Tower TIF starts above $400M or so but the value is approx $1.1B. Lot of tax money diverted to ???. The taxes above the TIF is more than enough money to provide security for the mayor. Susan knows much more about TIF’s than I do. Start at TIF’s Here if this link works is an idea… Read more »

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE