A new report analyzes the effects of “tax increment financing” on communities across the nation – and calls into question the merits of the widely used development tool.
The Chicago firefighters pension fund has filed claims with the Illinois comptroller for $3.3 million in shorted pension contributions, an action that could worsen city finances and service delivery.
Without property and income tax relief, housing in Illinois will continue to be less attractive, Illinois’ population is likely to continue its decline and housing price appreciation can be expected to continue to lag the rest of the nation.
Lax oversight of Illinois’ little-known regional development authorities has led to questionable business arrangements with one official in particular.
“My parents came [to the United States] in 1969. I grew up in the Chicago area. “When Cynthia and I got engaged, we started home searching. We wanted a place ready to go. “I knew nothing about [the cost of] homeownership until I started to home search. I was looking in Oak Lawn, Oak Forest,...
A real estate investment deal arranged by a firm that employed former Mayor Richard M. Daley’s nephew has dealt a blow to Chicago’s cash-strapped pension funds, underscoring the need for a 401(k)-style alternative.
Amid two record-breaking income tax hikes, growing property tax bills and population decline, the Land of Lincoln’s income growth is trailing the rest of the nation.
At least one lawmaker is attempting to avoid responsibility for one of the most important policy issues in the state.
One wonders how many times an unpopular idea must be knocked down before it rises back from the dead. Especially when it means more money for the state. And especially in Illinois.
Poor public policy and inefficient government mean Illinois will struggle to provide relief for residents in need during the next downturn.
A proposed 1 percent sales tax for school facilities improvements would bring the city of Springfield’s combined sales tax rate to 9.75 percent – among the highest in the nation.
Illinois issued more than $60 million in EDGE tax credits to Takeda Pharmaceuticals from 2003 to 2013, more than any other company received over that time.