Tag Archives: Pension

Heartland Article: Chicago City Council Approves Mayor’s Historic Property Tax Hike

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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