Since the beginning of FY2009, the Cook County Pension Fund has seen an increase in its liabilities not covered by assets, or the unfunded liability, of nearly $3.8 billion. The increase is attributable to a number of factors and has fluctuated over the years.

The following table...

In her “State of the City” address in August, Chicago Mayor Lori Lightfoot stated her administration will pursue a graduated real estate transfer tax...

The Civic Federation recently released its annual estimate of the full value of property in Cook County . The 2017 estimated value of all Cook County real...

The City of Chicago levies taxes on both hotel operations and occupancy. The City charges a 4.5% hotel accommodations tax and a 6.0% additional home share tax on...

In the State of Illinois, non-home rule units of government located in counties subject to the Property Tax Extension Limitation Law (PTELL) are limited in the size of their annual property tax extension to 5% or the increase in the Consumer Price Index (CPI), whichever is less. However, the...

The City of Chicago recently released its Budget Forecast for FY2020 , which provides financial estimates for the City’s fiscal year ending on December 31, 2019 and a forecast for the...

Cook County’s public health system has sounded an alarm about the increasing cost of services for which it does not receive reimbursement, saying that Cook County Health will not be able to fulfill its mission of providing care to all—regardless...

This year is the third year that Chicago Public Schools (CPS) will receive funding from the State of Illinois through the statewide Evidence-Based Funding formula that was signed into State law in August 2017. The CPS 2020 fiscal year runs from July 1, 2019 through June 30, 2020.

The...

The newly appointed Chicago Public Schools Board of Education has made several changes to...

In July members of the Governmental Research Association (GRA) gathered in St. Petersburg, Florida for the 116th annual GRA conference.

The GRA is the national organization of individuals professionally engaged in governmental...

A Commission created to analyze an annual five-year forecast of Cook County revenues held its first meeting in early July. The Cook County Board of...

The Civic Federation’s Annual Civic Awards Luncheon, now in its 37th year, recognizes civic leadership in Chicago. Named for the Federation’s founding members, the Lyman J. Gage Award and the Addams-Palmer Award recognize the outstanding civic contributions of Chicago individuals and...

As part of the $45 billion capital bill passed by the Illinois General Assembly in early June 2019, and pending the Governor’s signature, the State’s tax on cigarettes and e-cigarettes will increase starting on July 1....

The Cook County Chief Judge’s Office recently released a report and accompanying data assessing the effectiveness of a 2017 reform of...

The Illinois Department of Revenue recently announced that the final equalization factor for the Cook County 2018 property assessment year (taxes payable in 2019) is...