The Civic Federation supports Tax Increment Financing as an economic development tool but recommends that there be much greater transparency in the quantity and quality of TIF information provided to the public. The Federation recommends including full financial information about TIF in all municipal budgets, making TIF information easily accessible on the internet, and undertaking a…
This report explains the impact of TIF on taxpayers and local governments in Illinois. It also reviews the TIF designation process, recent empirical research on TIF, and provides detailed information on selected City of Chicago TIF Districts. It is a companion report to the Civic Federation Position Statement on TIF.
The Civic Federation opposes the City of Chicago's proposed $5.9 billion budget. The budget proposes an additional $266.6 million in new spending and includes a $108.0 million property tax increase, the largest in recent Chicago history. We believe that the 15.1% property tax increase should be rejected and the city should maintain its self-imposed property tax cap. We believe that the city has…
This brief provides an updated compilation of selected consumer taxes, including rates and descriptions, that will be in effect in the City of Chicago on July 1, 2008. It includes such taxes as the sales tax, gas tax, amusement tax, lease tax, liquor tax, restaurant tax, soft drink tax, wheel tax, and parking tax.
The Civic Federation supports the City Colleges of Chicago's tentative $473.6 million FY2008 budget because the district will reduce its overall property tax burden, exercize fiscal restraint, and has increased the amount of time allowed for public comment and review. The Federation is concerned, however, that the budget does not contain current personnel or enrollment projections and predicts…
This report provides a trend analysis of indicators that measure the financial health and performance of ten major local government pension funds from 1997 to 2005. It finds a combined 16.5 billion dollars in unfunded liabilities for the ten funds, and makes numerous recommendations on legislative actions that should be taken to slow the downward spiral of pension underfunding.
The Civic Federation's legislative priorities for 2007 include public pension reform, property tax exemptions and assessment reform, revision of the Regional Transportation Authority Act, tax increment financing disclosure, timely county audits, and other post employment benefit trust fund authorization.
This issue brief describes various forms of privatization available to the public sector, including asset sales, contracting out of management, corporatization, internal markets, intergovernmental contracts, managed competition, and vouchers. It discusses the pros and cons of these alternative service delivery options with examples of privatization efforts in Chicago-area governments. It also…
The Civic Federation supports the City of Chicago's proposed $5.7 billion budget but has serious concerns about the poor health of the City's pension funds and the low level of reserve funds for contingencies.
This report compares property tax rates in selected communities around metropolitan Chicago, and finds that the effective rate for most communities studied fell between 1999 and 2004.
