-- 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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My property market ‘valuation’ is what I paid for it whether it was purchased 5 years, 20 years or 50 years ago. The assessors unrealized hocus pocus math valuation in present day dollars based on houses selling nearby is as equally irrelevant as the failed ‘unrealized gains tax’ congress tried to ram through on the billionaires. Just another day for Cook county mafia protection racket’s biannual fleecing of mortgage holders aka homeowers err sheep
It’s not Kaegi himself who sets assessments, or who polices assessment process. Assessor Department staff, administration to administration, review and set assessments. Department managers could certainly stand stronger scrutiny from Federal law enforcement.
people in Chicago have no idea what it’s like to pay real property taxes, come out to the burbs especially will county we’re the school districts rape you blind every year
What Crains’s is saying that Kaegi can squeeze much much more tax dollars out of these properties and redistribute it to a select few who voted him in as a sincere Thank You.