Chicago residents are currently facing record levels of inflation on gas and other items and deal with the state's second-highest property taxes in the nation. The property tax increase could begin to affect businesses and consumers due to even higher costs at restaurants, stores, bars and elsewhere.
The rate of inflation indexed property taxes will have to be capped at a level much lower that the current inflation rate of 9%.
Otherwise Chicago property taxes would double in 9 years and West Detroit will arrive much sooner.
I don’t have a good answer for this dilema as I don’t expect the rate of inflation to decline until several years after the cause of it has been instutionalized in a memory care facility.
Giddyap
3 years ago
This will change the current steady flow of residents leaving Chicago — into a balls-out jailbreak.
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.
The rate of inflation indexed property taxes will have to be capped at a level much lower that the current inflation rate of 9%.
Otherwise Chicago property taxes would double in 9 years and West Detroit will arrive much sooner.
I don’t have a good answer for this dilema as I don’t expect the rate of inflation to decline until several years after the cause of it has been instutionalized in a memory care facility.
This will change the current steady flow of residents leaving Chicago — into a balls-out jailbreak.
this needs to happen. Make Lori own it.