by Daniel VeseckyTax Increment Financing (TIF) Districts are a complex, often misunderstood part of Chicago’s tax structure. TIF Districts segment and dedicate a portion of property tax collections within a designated geographic area to…
by Grant McClintockChicago is the only major city in the United States that operates without a constitution, which for cities is referred to as a charter. Chicago’s outlier status in how it governs itself is reflected in structural…
by A.D. Quig, Olivia Olander, and Jeremy…
By Grant McClintockFollowing a lengthy political debate, Chicago’s FY2025 enacted budget managed to technically fill a nearly $1 billion projected budget gap. However, as the Civic Federation noted in its…
Chicago’s city council is set to vote on a package of ordinances setting the municipal budget for 2025. A late start, the mayor’s failure to provide detailed information requested by alderpeople, and a unanimous city council…
The non-partisan organization recently published analyses and informational reports on the finances of local governments and the impact on their taxpayers. CHICAGO – The Civic Federation released six reports in October and November,…
This short report presents trends on increases in total property tax extensions for all the governments on typical Chicago property tax bills. A taxpayer in the City of Chicago pays property taxes to 7 or 8 local governments, depending on…
On October 30, Chicago Mayor Brandon Johnson introduced the City’s proposed FY2025 budget. The proposed budget included a…
The City of Chicago currently faces mounting fiscal challenges, with a projected FY2025 budget gap of $982.4 million. A significant contributor to the City’s rising costs is its rising debt burden over time. More information about the City…
