Politicians’ quick answer to the state’s problems is consistently to raise taxes, but evidence shows tax hikes are a negative for families struggling in a state already lacking opportunity.
Property-tax hikes have caused taxes on NBA star Dwyane Wade’s former house to more than triple, driving away prospective buyers and showing the harm Illinois’ sky-high property-tax rates inflict on homeowners.
A new Chicago financial report shows the city’s total unfunded liabilities have jumped by over $17 billion, growing to nearly $24 billion in 2015 from $6.5 billion in 2014.