-- 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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Pretty sure some guy in New York just got into a lot of trouble for overvaluing assets.
…and yet despite all of it Chicago had dismal attendance at the polls last election.
Want to bet while some real estate taxes are going way up others are staying the same of going down. Want to bet if you are politically connected your real estate taxes are not going up? Conversely, if you are a thorn in the side of politicians you just might get a 640% tax increase.
Well you can thank Toni Preckwinkle for that! And be sure to thank your municipality, redundant township, and local school board too. And yes, here’s looking at you, Dolton Mayor too. Cook County public agencies spend and spend and spend, as if pool o real estate tax-monies are gold-plate guaranteed to support unlimited growth in government-spending. Nor any worries at Cook County taxing-entities about inflation there, just add another 5% – 10% annual bump to spending projections, regardless of state of economy, regardless of state of Cook County household finances. Cook County, school boards, and municipal agencies provide generous pension… Read more »
650% boggles my mind. Just my car insurance is approaching the monthly payment.
Communists are dirty. They will do anything to get their agenda thru.
And you have a s…load of commies in ill
When their taxes get close to what they are in Rockford then they can complain. The Flaws home assessed at $878K and their taxes will be $16K. In Rockford the same home value will pay $32,752.52 in taxes at a tax rate of 11.4253% for 2022 on 1/3rd value with the homeowners deduction or double what they pay. This is why our home values have gone nowhere in decades except for the last few years. Up a little due to low inventory. Here is some info on tax sales here. I believe the interest rate to get your property back… Read more »
Find out what it costs to move a house to Tennessee.
Assessments can be fixed. What can’t be fixed is the decades long problem of how unions have caused the problem of ridiculous real estate taxes. It started with the private sector unions pricing their companies out of existence and along with it their jobs. When a private sector business is no longer profitable they shut it down. Union labor could not compete with overseas markets as they developed, the perfect example of how this affected the south side of $chitcago and the south suburbs is the steel industry. Now you have the school districts, which are about 70% of your… Read more »
It’s such a racket. We need a major realignment. I cannot fathom that Brandon’s tax scheme to “help” homeless got as many votes as it did. When the Archdiocese offers properties for migrants for free, and he chooses to pay :” market rate” rent to connected individuals, he has not shown the competence, managemnt chops, nor the honest to be deserving of the public trust.
They all need to go. Property taxes need to be capped, and salaries and benefits for all public officials and employees need to be readjusted.
The huge tax increase is a blessing in disguise. Take advantage of it and live a better life elsewhere.