A new property tax hike is looming for Chicago property owners. Morning Spin gives us an overview of just how high the taxes will be….more than double two historic increases by Harold Washington and Richard Daley!! The Chicago Tribune staff share with us the specifics of this record setting tax and his efforts to sell it to the Chicago public.
Morning Spin: Just how large is Emanuel’s record property tax increase? -Chicago Tribune
Welcome to Clout Street: Morning Spin, our new weekday feature to catch you up with what’s going on in government and politics from Chicago to Springfield. Chicago Tribune, September 23
It’s Wednesday, Sept. 23, the day after Mayor Rahm Emanuel unveiled his tax-hike-laden budget and laid out a political strategy on how aldermen could sell it to voters.
Just how big is Emanuel’s record-setting property tax increase?
In 1987, under Mayor Harold Washington, property taxes rose by $79.9 million, which would be $167.8 million in today’s dollars after adjusting for inflation. In 2008, under Mayor Richard M. Daley, property taxes rose by $86.5 million, or $96 million in today’s dollars. Continued