Again?
How incompetent are Cook county officials? This incompetent:
Property tax bills usually sent out in July will once again be delayed, according to Cook County Board President Toni Preckwinkle.
Preckwinkle, who announced the two-month delay Tuesday, said she intends to reopen a no-interest loan program for government bodies that rely on the property tax revenue they now won’t get on time.
Suburban tax districts, such as schools and libraries, that would otherwise need to take out pricey short-term loans to cover their budgets can instead borrow from the county’s $300 million Property Tax Bridge Fund Program, Preckwinkle said. That program mirrors one put in place last year when tax bills were delayed four months due to a computer issue.
Guess who isn't eligible to participate in Prickwrinkle's program?
Chicago Public Schools, however, would not be eligible for that loan program. That could be a problem for CPS, which last year paid $220,000 in interest per day on short-term loans it took out to make payroll.
CPS officials said last year’s tax bill delay has forced them to take out at least $1.6 billion in short-term loans for operating expenses and another $246 million loan to keep its teachers pension fund solvent — making for $33 million in interest payments down the line.
Don't worry though - Conehead will figure out some way to stick it to Chicago taxpayers at the behest of his political masters.
This could be a good thing though - getting the tax bills so close to election season might remind people exactly why Chicago, Cook County and Illinois are in such bad financial shape.
It's the democrats.
Labels: county, money questions









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