-- 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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Here in Rockford the school district announced they are receiving an additional $800K or so from the state. Instead of giving a morsel of relief to taxpayers they will eliminate most fees for kids with the exception of parking and a few other fees. Rockford dist 205 tax rate is 7.3508% on 1/3rd value which is more than the entire tax bill for many homes around the country. My home $164K (new reassessed) the school tax’s alone are $3,591.82 which is 2.2% of total value far above national average. I really am in a quandary on how real property tax… Read more »
No different in romeoville for valley view 365u tax rate is 7.3030 new assessment at 210k which equals a ridiculous 4,821.37 to the school district., that is for 2018. God only knows what 2019 is going to bring. Every year they take the full amount allowed under law, I’ve sent emails to school officials and received such lame responses from them you would think a 3rd grader wrote the responses. I wish a could go to the tax assessor and only pay a portion of my tax bill leaving out school district. And I reside in romeoville and pay Lockport… Read more »