With one proposal to pay off Illinois’ pension debt asking the typical homeowner to pay more than $1,900 in additional property taxes for the next 30 years, the stakes for pension reform have never been clearer.View Report
The excessive severance package comes as a bill curbing golden parachutes sits in the Illinois House of Representatives.
Reductions in state subsidies are one reason for Decatur’s predicament, but long-running pension woes are an even larger source of pain.
Residents of St. Clair and Madison Counties will soon see some of the nation’s most punishing property tax bills.
While the county hospital system loses out on revenue, county payroll and retirement costs continue to climb.
The Civic Federation’s criticism of Gov. Bruce Rauner’s proposed budget is a mixed bag, with its own proposals for Illinois’ financial crisis – including nearly $3 billion in tax hikes – missing the mark.
A proposal to levy a statewide 1 percent residential property tax would vault Illinoisans’ property tax burden to the highest of all 50 states.
More than half of the full-time village workforce takes home total compensation over $100,000 annually.
The Lake County village will tap into its savings account to help cover the costs.
East St. Louis’ police and fire pension funds experienced large funding shortfalls in 2016, putting the city at risk of revenue garnishment from the state comptroller’s office.
While details surrounding the ex-official’s separation with the village remain undisclosed to the public, trustees’ approval of his $161,000 severance package went unobstructed.