Less than 50 cents of every additional property tax dollar over the last 20 years went to pay for services that raise home values. Instead, the primary driver of the rise in property taxes was pension costs.
Dwyane Wade’s Matteson home has been on the market since May. At its current 5 percent effective property tax rate, the buyer would pay for it again in property taxes within 20 years.
Despite serving one of the most overtaxed parts of the state, a retired Kane County-area water district employee has collected millions in pension payouts over the past 20 years.
An agreement to end a dispute between the city of Harvey and two public safety pension funds provides a glimpse at the impending fiscal crises stemming from government pensions across the state.
Seven former local officials across Rock Island County are taking home pensions in excess of $100,000 a year. And nearly a dozen have already collected $1 million over the course of their retirements.
Avenues for state oversight for cities with financial difficulties have limited utility in the face of massive pension debt and have almost never been invoked since Springfield passed them into law in 1990.
Alton residents are paying for two overlapping units of government – the city of Alton and Alton Township. But voters will soon have the chance to slash costs by dissolving the city’s redundant township.
While Quad Cities geography connects East Moline and the Iowa cities of Davenport and Bettendorf, Illinois’ abundance of school districts means their administrative environments are worlds apart. By consolidating duplicative administrative bodies, East Moline could generate taxpayer savings.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.