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Our Research

The Civic Federation engages in robust, independent, and objective fiscal analysis, recommendations, and oversight of government at all levels. Our work is driven by the belief that government must operate in ways that are Stable, Sustainable, and Resilient.

Achieving in a way that fosters legitimacy and inspires public confidence requires a foundation built on systems that are Transparent, Accessible, Accountable, and Effective.

Our work focuses on two core areas of expertise, fiscal policy and governance, and we promote policies, practices, processes, and outcomes that not only address today’s challenges but also build long-term trust in government.

September 24, 2026

Chicago Public Schools FY2027 Budget Overview

On July 30, 2026, Chicago Public Schools (CPS, or the “District”) passed a budget for its 2027 fiscal year, covering the 2026-2027 school year. The budget closed a $748 million deficit. However, it did so in part by assuming $150 million in State revenue that has not yet been secured or pledged. This may lead to a mid-year budget gap that will necessitate greater cuts than would have otherwise been required under the CEO’s original proposal. Further complicating the situation, the City of Chicago released a lower TIF surplus projection than anticipated after the Board of Education adopted the FY2027 CPS budget, which could widen the budget gap by another $100 million. 

Chicago_Public_Schools_FY2027_Budget_Overview_Cover

Featured Reports & Analysis

Property Tax
September 15, 2026

Estimated Full Value of Real Property in Cook County: 2006-2024

Full value studies estimate the market value of residential and commercial real estate within a taxing district. The full market value of real estate is an indicator of regional economic health, the size of the property tax base, and how property tax burdens are allocated across taxpayers. This measure provides a point-in-time snapshot of the estimated value of the property tax base, and allows for examining trends to show how market values have changed over time and whether the assessment burden has shifted between different geographic areas and property classes. The Civic Federation annually estimates the full market value of real estate in Cook County. Data is presented for Cook County as a whole, as well as within Cook County’s three assessment districts, referred to as triads: the City of Chicago, Northwest Cook County suburbs, and Southwest Cook County suburbs. This report also breaks down the estimated full value of property by assessment class (type of property).
City of Chicago
August 20, 2026

Video Gaming in Chicago: Where Things Stand

The 2026 Chicago City budget authorized video gaming within the City of Chicago (Chicago or the ‘City’) and relied on the projected revenue from licensing fees to help balance the alternative budget ultimately passed into law in December 2025 by the City Council without the signature of the Mayor. Since passage, the video gaming revenue has been the subject of recurring debate and controversy between the Mayor, the City Council, Bally’s, and others. However, that debate has occurred without full public-facing information and analysis needed to make informed policy decisions. This report breaks down what video gaming is, how it became legalized in Chicago last year, how the political debate played out, and what is needed from a public and fiscal policy perspective at this fragile moment as the City approaches an already complicated FY2027 budget season.
Chicago Public Schools
August 14, 2026

In The Wake of CPS’ Budget Vote: What Comes Next?

On July 30th 2026, the Chicago Board of Education approved a $10.1 billion budget for the 2027 fiscal year. Although the approved budget largely mirrored the budget proposed by Chicago Public Schools’ CEO Macquline King, it contained one major deviation. Before passing the budget, the Board voted on the adoption of an amendment that restored existing positions the CEO had cut to balance the proposed budget. Many of these cuts have already been implemented. The amendment’s proponents assumed additional funding would come from the State of Illinois to cover the cost of restoring those roles. At the time of the Board vote, this additional revenue had not been promised or secured by state legislators. The contentious Board amendment amounted to budgeting on the basis of non-existent revenue and could cause significant fiscal strain at CPS if the additional State funding does not appear. This short report will examine the changes made to the budget and discuss several of the most relevant questions now facing CPS.

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