Suburban Democrats won’t buck Illinois’ statewide property tax hike proposal – Prairie State Wire

Comment: Terrifying, but they're merrily on their way to an overwhelming reelection.
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nixit
7 years ago

No way a statewide property tax ever gets passed. You’re talking a $2,500 tax levied on a $250,000 house. Say that homeowner makes $100,000 per year and pays $5,000 in state income taxes. You’ve basically hiked his income taxes 50%. No. way.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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