Chicago might have just avoided a property tax hike, but city leaders couldn’t figure out how to pass the 2025 budget without other tax and fee increases. Here’s what the city should do to avoid repeating the same budgeting mistakes next year.
Government unions posed threats to public welfare that were recognized by founders of the labor movement and by progressive icon Franklin D. Roosevelt. Those threats have become reality, with government union power dominating – especially in Illinois.
Chicago’s government pension obligations have increased nearly sixfold since 2014, driving up Chicago’s sky-high property taxes. Another increase for 2025 was likely avoided, but city leaders need state lawmakers to make a permanent fix.
Illinois' unfunded statewide public pension liabilities grew another $1.5 billion in the past year. Better investment returns couldn’t keep up with public worker pensions growing faster than projected.
Chicago Mayor Brandon Johnson failed to rally the votes for a record $17.3 billion budget imposing $68.5 million in property tax hikes. City leaders have another chance to fix the budget. Here’s how they can do it.
Montgomery County notified some residents they will not be facing 1,400% property tax hikes as originally planned. The sticker shock stemmed from a 2007 law.
Elk Grove Village Mayor Craig Johnson said state lawmakers need to step in and help fix public pensions. Pension debt is the biggest driver of Illinois’ property taxes, which are the second-highest in the nation.
Chicago’s 2025 budget has a nearly $1 billion hole. Mayor Brandon Johnson has only proposed tax hikes. But when personnel eats over two-thirds of the budget, the city must be smart about freezes and cuts without making public safety even worse.
Illinois is at risk of getting in costly trouble with the federal government over its Tier 2 public employee retirement benefits. Here’s a solution that doesn’t make the state’s monstrous public pension debt even worse.