City officials suggest Moline will face a budget deficit without a property tax hike – which would only worsen the property tax plight of area homeowners.
An idea to fix Illinois’ fiscal woes with a statewide property tax made headlines in May. Voters in Lake County will be asked whether state lawmakers should have the power to impose such a tax.
Three economists made headlines in May by suggesting Illinois levy a new, statewide property tax. DuPage County voters Nov. 6 can declare their stance on whether that tax should be an option.
The Chicago suburb is facing severe fiscal challenges brought about by its unsustainable pension burden and $75 million in debt – a trend that has become too common among Illinois municipalities.
Rising pension costs in Illinois’ fifth-largest city are pushing Rockford near the edge of a fiscal cliff – a fate that officials are looking to reverse with a series of steep public service cuts.
In an effort to close a $7.4 million shortfall, the city of Evanston’s proposed budget for the coming fiscal year includes police and fire cuts along with a string of tax hikes – highlighting the need to trim government waste and push for structural reform in Springfield.
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.