Nearly 60% of older renters in the city spending more than 30% of their income on rent alone. But until state leaders take aim at reducing Illinois’ property taxes — which are the second-highest in the nation — struggling seniors will continue to see their rent bills climb as property owners pass on tax costs to tenants.
That’s probably about right for some, but SS was never intended as a sole source of retirement income. Those who thought otherwise suffer the consequences.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
I am not sure of the average SS payment, but I am guessing that many suburban seniors are pay 25% or more of income is property taxes.
That’s probably about right for some, but SS was never intended as a sole source of retirement income. Those who thought otherwise suffer the consequences.
Springfield could care less
Retired and renting in Chicago?! How depressing.