10.21.19
10.18.19
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...
10.11.19
In her “State of the City” address in August, Chicago Mayor Lori Lightfoot stated her administration will pursue a graduated real estate transfer tax...
10.03.19
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...
09.30.19
09.27.19
Supporters of a graduated income tax have emphasized its potential to stabilize the State of Illinois’ shaky finances and reduce pressure on local property taxes. However, like the previous income tax...
09.19.19
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...
09.13.19
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...
09.06.19
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...
09.03.19
The Chicago Public Schools FY2020 Budget is an example of fund-based budgeting. Collected revenues are assigned to different funds intended to support various governmental functions. The...
