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.
Next they will flip or raise the Chicago transfer tax put the larger burden or all of it on the seller.
Go to screw the residents on the way out that will never vote again.
Yeah, let’s raise the property taxes. My assessed value just went up by 14%, creating a market value that is about $100K higher than the actual market value if I sold my house. Sure, let’s charge more every year in every way possible. Let’s get those exit numbers from Chicago to be the highest in the nation. Their eyes are bigger than my stomach. Kiss Chicago good-bye.