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This article originally appeared at Heartland Fiscal Times on October 29th, 2015.
Chicago City Council Approves Mayor’s Historic Property Tax Hike
The Chicago City Council approved Mayor Rahm Emanuel’s proposed $543 million property tax hike on Chicago homeowners, partially filling a gap between unfunded pension liabilities and available assets that exceeds $32 billion.
The property tax hike is the single largest tax hike in the city’s history.
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