Chicago must hike most homeowners' property taxes by 2.5 % (Barrington, Barrington Hills: sales, homes)

[Manterro]

https://www.google.com/url?sa=t&rct=...Oqahanc2Mp5POA

I could see this coming a mile away. This property tax hike comes two years after the City Council increased property taxes by $588 million over the next four years, the largest jump in the city's history, to foot the bill for police and fire pensions. There's no use getting mad. YOU HAVE 2 CHOICES. #1 - Live in Chicago and give all your money to the city. #2 - Move the hell out of this dysfunctional city ASAP and hold on to your hard earned money. I'm working on # 2 real hard. Chicago has become way to expensive for me.

[Manterro]

All you people that love Chicago can have fun paying for CTU teachers to retire at age 55 so they can take home over $2 million in total pension benefits compliments of Daley, Rahm and Karen Lewis. Meanwhile you'll be eating cat food if you're lucky enough to reach 68 and unlucky enough to not be able to scrimp and save for your retirement. Teachers are better than you. You work for them.

[Manterro]

The politicians keep paying off unions and unions keep supporting the politicians in return. While tax payers keep paying more and more taxes to support both of them.

[MarianRavenwood]

Option #3: Get involved in politics and change the situation.

The only sure things in life are death and taxes. But FYI, the non-partisan Tax Foundation publishes an annual analysis of tax burdens, broken down in just about every way imaginable. Property tax, sales tax, income tax, excise tax, estate tax. They also consider overall tax burden...because after all, one state may have high property tax but low (or no) sales tax to offset that.

Considering a move close to home? Indianans and Michigans pay (overall) only about 2% fewer taxes than Illinoisans do (about $100 less per year). Wisconsons pay a fraction more than we do.

Hawaii, Louisiana, and Alabama pay the lowest property tax but their other taxes make up for that. Overall, Hawaiians pay only 0.8% less tax than Illinoisans. The lowest overall taxes are paid by Alaskans and South Dakotans. But of course, there are drawbacks to moving to Hawaii and South Dakota. Taxes may be low in Hawaii but the base price of pretty much everything is much higher because everything has to be imported. There aren't a whole lot of job prospects in South Dakota, and they aren't really known for superb standards of education and health care.

The grass always seems greener on the other side of the fence, so before you pick up sticks, you might want to read for yourself. The entire report can be found here: https://files.taxfoundation.org/2017...-7-10-2017.pdf

Don't forget to research pending and proposed legislation in the locale you are considering, too. Just because someone else's taxes are lower today, doesn't mean they will be tomorrow...Illinois isn't the only places where taxes go up.

[Manterro]

Originally Posted by MarianRavenwood

Option #3: Get involved in politics and change the situation.

Nothing's going to change in this city. It's been corrupt for so long, people think it's normal for Chicago to operate this way. If any change is coming, it's a long, long, time away. If you're happy here and you can afford to be taxed do death, more power to you. I'm on a fixed income and the never ending property tax increases are overwhelming me. My income stays the same but the cost of living in Chicago keeps increasing with no end in sight. If you want a reality check and you have some time on your hands, take a ride up to Michigan and see the teachers sitting on the beach retired at 55 with second homes. That should wake you up. Then again, maybe it won't. Some people don't want to see the truth.

[Manterro]

This is a couple years old but it breaks it down pretty good.


"The Fall of Chicago. There Will Be No Economic Recovery."


https://www.youtube.com/watch?v=BB6h9R0I-aM

[Manterro]

Below is a small part of the Sun Times story about the new school funding bill. This bill would allow the Chicago City Council to raise the city’s property tax levy to bring in $120 million more in new tax dollars to pay for Chicago Public Schools pensions. Chicago Alderman Pat O’Connor (40th) said the city will only raise the property taxes as a last resort and they will look at all other options first. But I knew he was lying and the mayor and city council would raise property taxes as soon as possible. Mayor Rahm and his ass-kissing city council members never tell the truth. That's why I hate them with a passion.


"State Rep. David McSweeney, R-Barrington Hills, was among the Republicans not on board with the measure both times, namely because of the inclusion of the potential bump in the property-tax levy for Chicago. The measure includes language that would allow the Chicago City Council to raise the city’s property tax levy to bring in $120 million more in new tax dollars to pay for Chicago Public Schools pensions.
But Chicago Ald. Pat O’Connor (40th) said the Chicago Board of Education would enact such a tax hike only as a last resort, as city homeowners and businesses are “pretty much at critical mass” after being hit with $838 million in property-tax increases to cover a wide range of city-related pension payments.
Good business would require you to look at all other options before you go further into debt. It’s a last-case scenario, he said."

[Manterro]

My memory is not the best but let me take a shot at this. Recent tax hikes: Huge multi-year property tax, water/sewer/garbage tax increase, soda tax, state income tax increase, another big property tax hike, 2 cell phone tax increases in the last 3 years, a cable tax increase and probably a few more that I missed. I'm giving you all a fair warning. They're going to tax the air you breathe as soon as they figure out a way to do it.

[Peasy973]

Wow. That's bad. That's alot of tax increases in a short amount of time. Years ago, there was talk about LA and California going under due to budget/pension issues. But Gov Brown has really stabilized things since he returned to governor.

Do you guys think that there is a politician in the state who would be governor of Illinois to stabilize things for the state or is too little, too late. I've never lived in Chicago or Illinois for that matter but it would be bad for a city of the size to go downhill.

[Graywhiskers]

It is not only Chicago. Look at the states of Connecticut and Kentucky. Public pensions have been severely underfunded, and the only answers are benefit cuts and/or tax increases. The politicians prefer to gradually increase taxes over time, much like the proverbial frog that starts out in lukewarm water, that is slowly brought to a boil. The frog does not realize the heat is increasing, until it is too late to jump out. Don't believe the tax increases are going to stop.