The Kaegi effect: Good for homeowners, bad for landlords – Crain’s

Now, with taxes calculated, we know the true impact of the Kaegi effect: The average residential property tax bill in municipalities in north and northwest suburban Cook rose just 1.1 percent this year from 2019, according to the Cook County Treasurer’s office. The average bill for commercial and industrial properties rose 15.8 percent.
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Poor Taxpayer
5 years ago

The Greed of the Public Employee has DESTROYED THE QUALITY OF LIFE for the honest hard working taxpayer.
$100,000 plus pensions are the norm for a full term pension.
Living the life of Luxury in Florida at age 45 paid for by the smock’s of Illinois.
Government employees do not work for you, you work for them
Illinois “Land of Slavery”

Tom
5 years ago

Remind me again why a business would want to open up in this state? This is not a good sign. Clearly unsustainable… but all we hear is “balanced budget, moving in right direction, great until Covid came”. How many businesses will this force to close?? 16% on average!!!! Are you kidding me!!!! Mark/Ted – How long until it’s game over for this fraud? I want to stay but it’s getting harder and harder to not see the writing…

Indy
5 years ago
Reply to  Tom

Staying in Illinois is just asking to have your family’s lives ruined.
Either leave the state or enjoy the suffering. Nobody is forced to remain in Illinois.

debtsor
5 years ago

My bill went up only 2.5% even though my assessed value went up 10%. I’ll take it.

Aaron
5 years ago
Reply to  debtsor

Debtsor,
you may “take it”. Many, many won’t. That increases the burden on you. But, you can afford it.

debtsor
5 years ago
Reply to  Aaron

If a homeowner can’t afford a $200 a year increase in property taxes, then a homeowner shouldn’t be owning a home. That’s less than my weekly grocery bill. Most of the reduction came from local entities in my conservative area trying to keep the bill low. The only increase was the school district as a result of a bond referendum.

Last edited 5 years ago by debtsor
Poor Taxpayer
5 years ago
Reply to  debtsor

Getting rid of Herpes is easier than trying to sell a home in Illinois.
The Greedy Government has taxed away all the equity and then some.
Illinois “Land of Slavery”

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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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