Inflation spike means higher property taxes for Chicago homeowners next year – Chicago Tribune*

The federal cost of living numbers for December show a 7% increase in the national consumer price index from the previous year; That means property taxes are set to go up 5% next year — the ceiling Lightfoot set for a single-year jump. The 2022 inflation-linked tax hike of 1.4% is set to bring in $22.9 million to help the city meet its woefully underfunded public pensions.
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Pensions Paid First
4 years ago

Very smart of Lori. The city needs more tax revenue and this is a great way to make sure you can get more money every year without the difficult vote. Very smart.

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