This annual report compares estimated effective property tax rates in the six-county region of northeastern Illinois between 2004 and 2013, the last year for which data are available. Among the 12 selected Cook County communities that the Civic Federation analyzed, Harvey had the highest effective tax rate for residential properties at 8.08% in tax year 2013, and Chicago had the lowest…
This report provides estimates of the total market value of real property in Cook County from 2004-2013 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 $459.9 billion in tax assessment year 2013. This represents an increase of $45.5 billion or 11.0% from the 2012…
In an analysis released today, the Civic Federation announced it supports the Metropolitan Water Reclamation District’s Tentative FY2016 budget of $1.21 billion. The District proposes a reasonable, balanced budget while maintaining ample reserves and continuing to be fiscally responsible by properly funding its pensions and prefunding its retiree health benefits. The full 55-page analysis is…
The Civic Federation Supports the Metropolitan Water Reclamation District’s tentative budget of $1.21 billion for being reasonable and balanced while maintaining ample reserves and for its fiscal responsibility in properly funding pensions and prefunding retiree health benefits. The FY2016 budget includes the maximum property tax increase allowed under state law for the third year in a row, with…
In this interview on the City of Chicago’s Proposed FY2016 Budget with Mayor Rahm Emanuel, the Mayor discusses the Civic Federation’s analysis of the budget. The Civic Federation supported the budget and necessary property tax increase as a long overdue action to address the City’s public safety pension funding crisis.
This article discusses the amusement tax changes presented as part of Cook County’s FY2016 Proposed Budget and the lack of support the amusement tax is seeing. It cites the Civic Federation’s analysis of the budget proposal, which could not support the budget due to the one percentage point sales tax increase. A Civic Federation blog post went into detail on the amusement tax.
This article reviews the Civic Federation’s analysis of Cook County’s FY2016 Proposed Budget. The Federation could not support the budget because the introduction and approval of a one percentage point increase in the County’s sales tax in order to increase pension funding happened outside of the budget process, and there are legal uncertainties regarding the increased pension fund contribution.
UPDATE: On Monday, November 9, 2015, Cook County Board President Preckwinkle called a special meeting of the Board of Commissioners to address the Hotel Accommodations Tax. On Friday November 6, 2015, the Civic Federation discussed a Hotel Tax based on net receipts; however, the ordinance introduced to the Board indicates that the 1.0% tax will be on gross receipts which will change the effective…
One Percentage Point Sales Tax Increase Unreasonable Given Alternatives In a report released today, the Civic Federation announced it could not support Cook County’s proposed FY2016 budget of $4.5 billion because it is based on a one percentage point increase in the County’s sales tax that will make the City of Chicago an outlier compared to other major urban centers with a composite rate of 10.…
The Civic Federation cannot support Cook County’s proposed FY2016 budget of $4.5 billion because it is based on a one percentage point increase in the County’s sales tax approved on July 15, 2015 that will make the City of Chicago an outlier compared to other major urban centers with a composite rate of 10.25%. While the Federation supports the County’s efforts to increase pension funding, the…
