-- Connecting the dots between our economy, government and business --
Rising commercial property tax assessments spark fears of big property tax hikes.
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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Bigger tax bills for commercial will also lead to higher prices on goods and services. The large and small apartment complexes will raise rents to compensate so a double whammy for homeowners with larger tax bills and higher costs for all goods and services. Nice going pols. No reforms in sight but more tax’s are here Now and on the Horizon and to Infinity and Beyond!!