City Council Finance Committee Approves $76.5 Million Property Tax Hike, As Mayor Lori Lightfoot's 2022 Budget Plan Passes First TestThe Finance Committee voted 19-12 to approve the property tax increase, which includes a $22.9 million automatic tax hike tied to the consumer price index, which aldermen authorized last year as part of the 2021 budget plan; another $25 million to help fund the mayor’s $3.7 billion capital infrastructure plan; and $28.6 billion in tax revenue that will be collected from new property.
City Council Approves Lightfoot's $12.8 Billion Budget, $94 Million Property Tax Hike, But Critics Say 'Don’t Give Me Crumbs And Tell Me It’s Cake'Aldermen voted 29-21 to approve the mayor’s spending plan, and 28-22 to back the property tax hike. It was the tightest margin of approval for any city budget since the infamous City Council Wars under Mayor Harold Washington, when a coalition of 29 mostly white men routinely voted against Washington's agenda.
City Council Advances Mayor Lori Lightfoot's $12.8 Billion Budget Plan; Final Vote Set For TuesdayThe mayor needs at least 26 votes to pass her budget plan on Tuesday, and while it appears she has the votes, it could be the closest budget vote in decades.
Finance Committee Signs Off On Mayor Lori Lightfoot's $94 Million Property Tax Hike Plan, Rest Of 2021 Tax PlanThe 21-12 vote by the Finance Committee signals Lightfoot likely has the votes to pass her budget plan through the full City Council, possibly as soon as next week.
Aldermen Push Back On Mayor Lori Lightfoot's Proposed Property Tax Hike As Budget Vote Looms“We have looked at a lot of things before we get to this point,” Budget Director Susie Park said. “The property tax was not an easy decision to come to.”
Facing 'Zero Easy Choices,' Mayor Lori Lightfoot Stands By Call For $94 Million Property Tax Hike To Balance 2021 Budget“I feel like we are all on the right path as we are right now,” Lightfoot said.
Mayor Defends CPS Property Tax Hike In State Education Funding PlanHouse Democrats estimate CPS could levy an additional $120 million in property taxes. Cook County Clerk David Orr estimated it would be more
Chicago Extends Deadline To Apply For Property Tax RebateCity officials have extended the deadline for Chicago homeowners to apply for a property tax rebate designed take the edge off a record tax hike approved by the mayor and the City Council last year.
Chicago School Board Approves $5.4B CPS BudgetThe Chicago Board of Education voted unanimously today to approve a controversial $5.4 billion budget for the Chicago Public Schools, including a property tax hike to fund teacher pensions.
Activists, Aldermen Want Property Tax Rebate For RentersSome aldermen and activists on Monday called on Mayor Rahm Emanuel to include rental properties in plans for a property tax rebate that would offer some relief from the massive tax hike approved last year.
Alderman, Activists: Property Tax Hike Will Hurt Chicago RentersA freshman alderman has joined community groups in predicting Mayor Rahm Emanuel’s proposed property tax increase would create a crisis in affordable rental housing.
Emanuel Property Tax Hike Clears Another Hurdle, But With Plenty Of DissentMayor Rahm Emanuel's proposal for the City's largest ever Property Tax increase won key committee approval Tuesday afternoon, but the vote was far from unanimous.
Commercial Business Group Sounds Off On Emanuel Property Tax PlanAs members of an Illinois House committee prepared to hold a hearing on Mayor Rahm Emanuel’s request to expand property tax exemptions to ease the burden of his proposed property tax hike, Chicago landlords were criticizing the mayor’s plan.
Civic Federation Backs Emanuel Property Tax Hike, But Has ConcernsA respected financial watchdog group has thrown its support behind Mayor Rahm Emanuel’s budget plan, but it comes with a warning.
Emanuel To Seek $500M Property Tax HikeMayor Rahm Emanuel will seek a massive property tax hike later this month, as he seeks to shore up police and firefighter pension funds, and close a $750 million budget hole.