Tax Increases Ahoy!
Mayor Daley hates raising property taxes about as much as Chicago homeowners despise paying those increases.
Part of it is fear of political backlash. The other is a pragmatic desire to leave the door open for Chicago Public Schools to tax to the max, as it has in 10 of the 13 years since Daley's school takeover.
But with a $217 million budget gap and the next election four years away, it looks like the mayor may have no choice but to bite the bullet this time. That's even after crusading for property tax relief to soften the blow of reassessment increases.
None of the city's $713.4 million property tax levy is available for day-to-day operations. It's largely eaten up by pension obligations.
"How do you go on like that while giving police and fire pay raises every year and with pensions and health care going off the charts? They're all afraid of the headlines. But, take the polls and stuff 'em. You need to govern," the source said.
Labels: city politics