Chicago Mayor Brandon Johnson failed to rally the votes for a record $17.3 billion budget imposing $68.5 million in property tax hikes. City leaders have another chance to fix the budget. Here’s how they can do it.
The current owners of Kevin McCallister’s house from the “Home Alone” movie will pay nearly $50,000 in property taxes this year. Illinoisans pay more than twice as much as the typical American in property taxes.
Chicago Mayor Brandon Johnson’s proposed budget includes $233.9 million in tax hikes including rideshare prices and streaming services. It has already passed a key committee in the city council.
Chicago’s 2025 budget is facing a nearly $1 billion gap. Mayor Brandon Johnson’s plan to close it: increase taxes. The city’s rising non-personnel costs, now at $6.6 billion, will outpace its grant funding, squeeze taxpayers and increase regressive fees.
Chicago speed cameras sent drivers $28 million less in tickets through September than during the first nine months of 2023. Annual revenues could spike again under proposals to drop the citywide speed limit or boost the number of cameras.
Montgomery County notified some residents they will not be facing 1,400% property tax hikes as originally planned. The sticker shock stemmed from a 2007 law.
High cigarette taxes give Illinoisans a financial reason to sneak in smokes from other states. Illinois is among the 10 states with the most smuggling.
Chicago Mayor Brandon Johnson wanted a $300 million property tax hike for his big budget. All 50 aldermen said “no.” So then he asked for $150 million and a 35% tax on liquor. Johnson fails to admit it’s not about taxes, it’s about making changes.
Residents in Central Illinois are feeling sticker shock from exponential property tax growth. One woman’s $756 property tax bill is skyrocketing to $10,000 in one year.
Chicago’s 2025 budget has a nearly $1 billion hole. Mayor Brandon Johnson has only proposed tax hikes. But when personnel eats over two-thirds of the budget, the city must be smart about freezes and cuts without making public safety even worse.
Chicago faces financial meltdowns on three fronts: the city budget, Chicago Public Schools and the Chicago Transit Authority. The CTA faces a $577 million deficit, but it can be fixed.
Pekin and Normal have joined the list of local governments passing ordinances to replace the 1% statewide grocery tax when it expires.