Chicago's day of Reckoning has arrived (Lincoln, Plano: credit rating, property tax, to live in)

[afdinatl]

Originally Posted by marothisu

Gotcha.

With any city, there's going to be different tax schemes - some cities have a lower property tax, but higher income tax, for example. The issue is that many people react strongly towards a few of them, but often times don't look at the overall picture of it all.

For example, if someone was comparing Chicago to Minneapolis and stated that their property taxes in Chicago were $4000/year more than they would be in Minneapolis, it would be cause for concern. But pretend for a minute you'd make $85,000/year in Chicago versus $75,000/year in Minneapolis (adjusted for COL). Illinois has a 3.75% income tax rate while Minnesota is 9.85%. You'd be paying $3187.5 in Illinois versus $7387.50 in Minnesota for income tax. Even though you're paying $4000 more per year in property taxes in Illinois, you'd still actually be paying $200/year more in Minneapolis after taking income tax into the picture. Just one example, but it's to illustrate that many people can jump the gun very quickly on these things without taking the entire picture into account. Of course, some states are better than others (i.e. a state like Texas that has no income tax is very attractive to many many people for obvious reasons).

TX get their money back with higher property and city taxes

[bellhead]

Originally Posted by NOLA101

There is no such thing in NYC.

NYC has an income tax on city residents, which is graduated, and well below 3%.

But there is no payroll tax, and nonresidents working in NYC pay no city income tax. If you live in the suburbs, and work in NYC, you pay no NYC income tax.

But none of this is here nor there. What works in one city may not work in another. NYC has the resident income tax, but the suburbs have much higher property taxes.

NYC, to be blunt, can also do things other cities can't, because it's NYC. They have an idiot mayor with wacky policies and they have extremely high income taxes on the rich (I believe highest in the nation) and on corporations (definitely highest in the nation) but it doesn't seem to put any brake on the city's economy, which is booming more than ever.

I lived in Cincinnati for a while and it's 2% there no matter whether you lived in the city or not, even out of town ball players and musicians paid the 2% tax.

[SyraBrian]

The hike in property taxes will hike rents accordingly. That and the insane 10.25% sales tax will seriously curtail the domestic migrants who attempt to move to a city without having a job already lined up.

[andrew61]

Originally Posted by bellhead

I lived in Cincinnati for a while and it's 2% there no matter whether you lived in the city or not, even out of town ball players and musicians paid the 2% tax.

Same in Cleveland. 2% income tax if you work in the city, whether you live there or not. And if you live in a suburb, you'll likely owe additional income tax to that suburb, usually through something called the "Regional Income Tax Agency (RITA)".

[bellhead]

Originally Posted by andrew61

Same in Cleveland. 2% income tax if you work in the city, whether you live there or not. And if you live in a suburb, you'll likely owe additional income tax to that suburb, usually through something called the "Regional Income Tax Agency (RITA)".

All states and cities need money to run it just depends on the taxing scheme.

[NealIRC]

Originally Posted by FAReastcoast

I had my garage broken into this weekend, and the dispatcher told me to fill out a report at the station at my earliest convenience; now I understand there are bigger fish to fry on the weekends, but these are the same criminals who are holding residents up at gunpoint around the Southport Corridor as well, not to mention 4 other garages on my BLOCK were broken into at the same time. Anecdotally, the police I speak to in the neighborhood told me they are not sent to scenes unless a gun is drawn or a victim has been injured, their hands are tied, and I feel for them. It is amazing to me how the police are sent to neighborhoods where the residents don't want them there, and the neighborhoods who want the police can't get decent coverage.

There really isn't anything the police can do if they came to see your garage. You didn't see the person so there is no description. It's just like making a police report of a stolen bike over the phone - they'd rather do it over at the station.

And it's not like you said oyu have surveillanca cameras in your garage or alley. That would also be different.

This is just like "a rock fell from the sky and hit me in the head, can I make a police report?"

Originally Posted by FAReastcoast

I pay over $30K a year in property taxes, and I can't even get an officer to respond to a robbery? Now that is what will drive people out of Chicago (including my self).

Oh you can, but yours wasn't a robbery, it was a burglary or vandalism.

-

Here's what I complain about.

I had some recent problems with 911 dispatchers. I'm a big believer of the "bait and switch." In order to get criminals locked up, you have to allow them to be criminals.

Recently at night, some Black homeless guy soliciting change outside a 7-11 in downtown. But I tell him to "shut up already." He say go ahead and come out I'll beat yo ass and I say "go ahead, go ahead."

When I come out he follow me "so you ain't going to help me out?" "No I ain't going to help you out" and later boom, I get punch in face. I immediately follow him and make 911 call. But I lost him.

Found him again later outside the same 711 and made 911 call. Police came but drove by without stopping.

Later I see him follow another Black man with groceries and then the Black man shouted to him "Don't follow me" and he went back.

Later I saw him follow a White guy and then the White guy ran off, and then he came back but I lost him.

Later a Black customer complained that he was assaulted by him. I told him "he punched me in the face" and I was already bleeding.

But if was good I lured him to punch me.

-The Black man who shouted "don't follow me" can't make a 911 call because nothing happened to him.
-The White guy who eventually ran away from him like a coward can't make a 911 call because nothing happened yet.

But I can, because I got the blood on my chin.

Then the 4th time I saw him I called 911, this time, the 911 operator got mad at me, and said "are you going to wait at the intersection for the police to arrive" and I said "No I want to follow him" but the 911 dispatcher said "No, the police aren't going to follow you, you have to wait for them." So I wait for them, when police came, he long gone.

Sad how this city works.

Next time I would have argued to the 911 dispatcher what if he stole by laptop or something. Since is there a rule that we can't follow the defendant?

[Finaly2015]

Looks like the property tax hike passed and it was raised to nearly 600 Million dollars. not including the money for CPS which will probably have to lay off 5,000+ teachers by January.
[url=http://www.chicagotribune.com/news/local/politics/ct-rahm-emanuel-property-tax-increase-budget-met-0923-20150922-story.html]Emanuel: Raise property taxes or lay off police, firefighters - Chicago Tribune[/url]
Glad we aren't going to be staying and paying for that corruption and greed.

[flamadiddle]

Yeah, sounds like a real mess and the sad part is that the underlying problem still exists so it's just a matter of time before Uncle Rahm comes knocking on the residents door asking them to pay even more.

Out of curiosity, is there any major US city that's actually in good financial shape?

[compactspace]

Originally Posted by flamadiddle

Yeah, sounds like a real mess and the sad part is that the underlying problem still exists so it's just a matter of time before Uncle Rahm comes knocking on the residents door asking them to pay even more.

Out of curiosity, is there any major US city that's actually in good financial shape?

The are some that are flush with boom money, so their day of reckoning is delayed until the boom is over. Then there are some that don't have any amenities to speak of, whose teachers top out at 30K a year and who boast a huge, spread-out population of working poor. I can't think of any that have a quality urban experience but don't have egregious waste.

In any case, I'm a landlord in Chicago so I'm ponying up the cost. It doesn't bother me over much because I know it needed to happen and I anticipated it. I would, however, like to see some more efficiencies introduced. The three-man garbage crews, for instance, and the 100K sanitation overseers in each ward need some shaking up. That's just unacceptable. And it's time to move city workers off pensions and onto 401K schemes. Then the city can digest the bloated extant pensions as a more-or-less fixed cost.

Regarding taxes, I'd much rather see a progressive income tax in the city than the regressive, commerce-busting sales tax. But that's just the raging socialist in me talking.

[ChicagoMeO]

A couple things disturb me - rents are going up, landlords will pass on the raise in taxes and expenses onto the renters. and so is chicago going to accept the Syrian migrants into the city and how will that affect things as to more expenses to go pay for them?