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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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The ‘recapture’ law is a good one – sure seems unconstitutional. But in IL, that’s seems to be the norm. So year after year, the successful property tax challenges are simply pushed back onto to everyone else’s tax bill – Cook Co will not be denied.
Like I said before there is not one politician in Springfield or one Mayor across Illinois that has the guts or brains to want to do a damn thing, again status quo.
Here’s a list of suburbs getting the largest property tax increases. Check out the comments.
https://www.yahoo.com/news/cook-county-homeowners-15-suburbs-150658040.html
Are we at the breaking point yet? This is getting absurd.
Gee, our property taxes here in SC have gone down by $25 each of the last three years. Saving $10K a year compared to living in IL.
Not to worry, the great new south suburban
Airport will make everything right as rain
Tax money will fall from the heavens like raindrops, everyone will be singin Zippadee doo da, zippadee day.
I can’t wait for the completion of the extended CTA rail line to that will take me to this wonderful place once it’s completed too!
Taxes for southern suburbs goes up, but Preckwinkle won’t spend any money in these suburbs, such as Cook county police, heath care or even cutting grass. Preckwinkle sees suburbs only as tax revenue for Chicago.
Everything is tax revenue to Taxwinkle. Remember the failed soda tax? Kim Foxx probably wishes that one went through.
Tho Cook County collects the tax, most of it goes to local school districts and municipalities. Probably better to blame Tiffany Henyard and some of the school bureaucrats than Preckwinkle.