Chicago homeowners on the South and West Sides are bracing for huge property tax hikes, driven by surging assessments and government spending tied to pensions.
Chicago lost nearly 1-in-5 businesses between 2015 and 2024, translating to nearly 11,200 fewer businesses operating in the city. Of the city’s 98 neighborhoods, 80 lost 10% or more of their businesses. Mag Mile lost 41% of its stores.
The vote is over on the Chicago Public Schools budget. It dodged some immediate problems, but the financial mess will continue. Taxpayers will feel the pain long into the future.
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...