On September 22, 2015, Mayor Rahm Emanuel released the City of Chicago FY2016 Budget, which includes a nearly $1.3 billion property tax levy, an increase of $427.7 million over the originally adopted FY2015 budget. The property tax levy…
The City of Chicago recently released its Annual Financial Analysis for 2015. According to an…
UPDATE: On September 9, 2015, a lawsuit challenging the streaming services was filed on behalf of seven plaintiffs against the City of Chicago. The plaintiffs argue that because they subscribe to various streaming services, such as Netflix…
On June 17, 2015 the Chicago City Council approved the largest borrowing of Mayor Rahm Emanuel’s tenure, totaling $1.1 billion. The issuance pays for the current costs of refinancing the City of Chicago’s variable rate debt, ending its…
This annual brief provides a compilation of selected consumer taxes, including rates and descriptions, in place in the City of Chicago as of January 1, 2015. It includes such taxes as the sales tax, amusement tax, lease tax, hotel tax,…
In December 2010 the Illinois General Assembly passed and then Governor Quinn signed legislation (Public Act 96-1495) that created a new tier of pension…
Recently, Moody’s Investors Service downgraded the City of Chicago,…
What local government purposes, services, or expenditures does your property tax dollar fund? Governments traditionally use property tax revenues to pay for a wide variety of expenditures, including employee salaries and pensions, debt…
