- Chicago homeowners should brace themselves for sticker shock when they open their mailbox at the end of the month: property tax bills on average 13 percent higher than last year.
The big increase is mostly being driven by the record tax increase Mayor Rahm Emanuel engineered last fall to fix city pension funds for police officers and firefighters.
Cook County Clerk David Orr released tax rate figures Monday, revealing the practical effects of City Hall's painful decision. The owner of a single-family home with the current average sale price of about $225,000 can expect to see a property tax bill of $3,633, an increase of about $413.
That would be the "engineered" fix that Rahm cobbled together after Shortshanks and Rahm conspired to ignore decades worth of reports that said the City should stop spending money it couldn't afford and instead, increase their contributions to the pensions, thereby blaming the people the City had made Contracts with and who had been yelling for decades about the funding inadequacies.
Like that chart shows.
But hey, all those bike lanes and planter boxes and sculptures and college campuses andstadiums and Ferris wheels and exhibition halls aren't going to pay for themselves! Spend spend spend and kick that can down the road.
Labels: money questions