A typical Chicago homeowner faces up to $255 in potential property tax increases to cover city and school deficits. City income taxes could be next, if the ‘fair tax’ were to pass.
Gov. J.B. Pritzker calls his $3.7 billion income tax hike a “fair tax.” But opponents have criticized the constitutional amendment as a blank check for House Speaker Mike Madigan and other state lawmakers, courtesy of Illinois taxpayers.
Chicago leaders have been unable to finish developing valuable land after 23 years and $331 million in taxes, but convinced state leaders more time and money were needed.
The contractor who removed toilets from Illinois Gov. J.B. Pritzker’s mansion in a $331,000 property tax scandal received a nearly $9 million COVID-19 contract from the U.S. Army Corps of Engineers. The contractor hadn’t worked with the Corps in 76 years.
Illinoisans who have struggled without paychecks because of the COVID-19 shutdown could get a delay on their property taxes. The hope is they are working again before they must pay the bill.
Struggling businesses, individuals and families need relief while the economy is shut down. Despite Illinois’ financial woes, leaders can help the recovery by lifting government-imposed financial burdens.
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.