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Figures from Schaumburg, Hanover, Barrington, New Trier and Norwood Park townships make clear homeowners are in for higher property taxes while many commercial landlords will take less of a hit.
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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My property taxes in Denver on a $800K house are now at $4,000.
A similar priced house in the Sheeatcago burbs would be pushing $15,000.
Why are the property taxes so much higher in the Sheeetcago burbs?
IMO, mainly because of the political power of the Illinois public sector unions esp. the teachers unions. They are the Illinois Dems masters and always get what they demand.
Glad I’m not paying for that RACKET anymore!!
Da Judge
Here in Rockford a few years back property taxes were just over 5% of value most of it going to the school district. In the 90’s there was a lawsuit People Who Care vs Rockford Board of Education which cost close to $250M. It was a desegregation lawsuit and busing started and integrating the racial makeup of schools to have a certain percentage.of minorities. I am not sure if that is even paid for but the school portion of real estate taxes have been very high ever since and if it is paid for it may be a stealth tax… Read more »
My DuPage county taxes are 74% to “Education”
Don’t cheer your commie state will catch up soon
Lambrain,
Read about TABOR in Colorado.
Sheeetcago is a creation of the corrupt Illinois Democratic Party and their masters the public sector unions.
Da Judge
Way too much emphasis on funding taxing bodies from real estate. The only thing real estate needs is fire and police. The rest is needed by the occupants not the structure. One’s ability to pay is never in the equation.