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Across Lake View Township, whose boundaries encompass more than just the neighborhood called Lakeview, the median assessment rose by more than 31 percent for houses, townhouses and rental buildings with six units or fewer. For condos, the increase was just under 29 percent. The increases are smaller in Rogers Park: 18.2 percent for houses and others, and 20 percent for condos.
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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We are on the northside and got hit with a 64% increase last reassessment and now we are beign told to brace for another 50%. we literally cant take it anymore, we have drug dealers in our alley, section 8 going up all over our neighborhood, we cant use the public school and have to use private. We had hopes the city was turning around 15 years ago but it was a con job. We got sucked in, wont happen twice, wife is putting in for transfer out of state, I can work anywhere. F*ck this city and state.
Does anyone know if Chicago is under PTELL jurisdiction. Cook County is. Under Ptell your taxes can not be raised more than 5% of 1/2 of inflation whichever is less so if your home value skyrockets they are limited to 5% but if homes drop the rate can exceed 5%. This happened in Rockford with ever lowering property values. Many years our tax rates were approaching double digits to a high of 15.29% on 1/3rd value. They have stabilized for now but our values are still what they were in the late 90’s or early 2000’s. I pay $6,900 on… Read more »