This article discusses findings included in the Civic Federation’s recent Estimated Full Value of Real Property in Cook County: 2005-2014 report. The report found that the full market value of real estate in Cook County is approximately $499.1 billion for tax assessment year 2014, which represents an increase from the 2013 estimated value.
The City of Evanston recently released a white paper on the initial results following the dissolution of its coterminous township. Based on the results of a fiscal analysis of the dissolution of Evanston Township, taxpayers have saved $779,668 in fiscal year 2015, the first full year following dissolution, far exceeding the initial estimated savings of $500,000.[1] The Civic Federation has long…
This article reports on the amount in tax increases that the City of Chicago will need to stabilize the City’s major government pension plans. Laurence Msall, President of the Civic Federation, says the tax hikes are reasonable and better than no action but also notes that it remains to be seen whether they will be enough.
The full market value of real estate in Cook County was approximately $499.1 billion in tax assessment year 2014 according to an annual estimate released today by the Civic Federation. The 2014 total value estimate represents an increase of $39.3 billion, or 8.5%, from the 2013 estimated full value. Tax year 2014 is the most recent year for which data are available. The 2014 estimates represent…
This report provides estimates of the total market value of real property in Cook County from 2005-2014 and shows how property value is spread among the City of Chicago, the northern and the southern suburbs. The full market value of real estate in Cook County was approximately $499.1 billion in tax assessment year 2014, an increase of $39.3 billion, or 8.5%, from the 2013 estimated full…
This article reports on the City of Chicago’s potential plan to save the Municipal Employees Pension fund through raising utility taxes. Civic Federation President Laurence Msall remarks that there are very few, if any, sources of revenue that could generate the amount of money needed to fund the City’s largest pension fund at an actuarially determined level.
The Civic Federation recently released its analysis of the City Colleges of Chicago FY2017 Tentative Annual Operating Budget. This blog examines City Colleges of Chicago tuition rate changes for in-district, out-of-district and out-of-state tuition rates per semester hour over a ten year period. This blog also compares City Colleges of Chicago in-district tuition rates with the in-district rates…
This article discusses a plan to provide $20 million in property tax rebates to City of Chicago homeowners. Laurence Msall, President of the Civic Federation, notes that the program is likely to have a very modest impact to Chicago taxpayers.
Proposal keeps property tax levy, tuition rates relatively flat despite inadequate funding from State of Illinois In an analysis released today, the Civic Federation announced its support of the City Colleges of Chicago’s proposed FY2017 operating budget. The $523.7-million budget is a reasonable plan given the unprecedented uncertainty surrounding funding from the State of Illinois as it enters…
This article discusses the tough financial decisions Cook County will have to make in order to address its expected budget deficit. Civic Federation President Laurence Msall explains that Cook County has been grappling with financial issues after recent tax increases and suggests the County look for ways to decrease the cost of wages and benefits that account for most of the day-to-day spending.…
