According to a new analysis prepared exclusively for Crain's by the Mansueto Institute for Urban Innovation and the Center for Municipal Finance at the University of Chicago, the property tax bill paid by the average Chicago homeowner could rise hundreds of dollars a year as office tower owners pay less because of the depressed value of their property. Homeowners effectively would pick up a bigger share of the tax load. Chicago Teachers Union contract demands are totally divorced from reality – Wirepoints
May 8, 2024
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Details emerging about Chicago Teachers Union’s upcoming contract show just how divorced its demands, both extreme and expensive, are from the reality at Chicago schools. It’s not just about massive salary increases, but also about money for migrant students, climate initiatives, abortions and gender-affirming care. About blocking parental notification. Count on CTU’s demands to veer further from reality until the public finally says no.
Weekly crime statistics from the Chicago Police Department: Report through 5/4/2024.
Gov. JB Pritzker calls it “ethics” reform.
It’s rare to see city leaders in Chicago take an open, unabashed stance on the collapse of literacy. To complain is deemed as too political, too racist or too anti-public schools. So it’s refreshing to see Willie Wilson, a successful businessman and leader of the black community, call for a literacy initiative “with the goal of getting 100% of Black students reading at grade level.”
Inevitable
… until the homeowners can’t or won’t pay. Value of residences will decline as taxes increase and increasing numbers of the owners will be under water with diminished incentives to make mortgage and tax payments. Looks to me with a downhill train that’s lost its brakes. Just over 120 years since the Wreck of the Old 97.
With my downstate jitters in high gear hoping that there is not some sort of statewide tax or fee hikes devoted to the mess that is Chicago.
Chicago is rotting from the inside out
It’s not “could”– it is “how soon?” Aon Building just sold for 47 percent of what it was worth only 4 years ago. Every banker, broker and property manager in town knows the drop is going to be at least 25 percent or more across the board for most commercial assessments. Time to unload your condos in Chicago right now.
But the mayor has promised no residential property tax increases! I suspect that this is a promise he simply cannot keep under any circumstances.
Mayor BJ can’t even balance his own check book.
Higher prop taxes coming for all Sheeetcago property owners.
Bend over, grab your ankles and kiss your a__ goodbye!!