Emanuel Reluctant About CPS Raising Property Taxes By $225M

CHICAGO (CBS) — Mayor Rahm Emanuel is expressing reluctance about Chicago Public Schools raising city property taxes by $225 million this year. However, he is also defending the move.

The schools are hiking property taxes by nearly as much as last year, which is the limit allowed under state law. And Mayor Emanuel says he’s not taking the decision lightly.

“I’m not enthusiastic about raising taxes. On the other hand, I am enthusiastic about education,” he said. ” I am enthusiastic about the state finally stepping up and treating the children of Chicago fairly and equitably, and I am for the state of Illinois finally contributing to the teachers’ pensions of Chicago like they do for everybody else down state.”

The mayor says he is against letting pension debt become a drain on CPS and taxpayers alike, so this combined revenue will make for a more stable future.

CPS officials announced the tax hike on Wednesday.

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