Illinois General Assembly

A way out: Bankruptcy authorization would give struggling Illinois municipalities options

By Joe Tabor
02/10/2025
Published Feb. 10, 2025 Even though federal COVID relief funds provided an unexpected windfall, that one-time jolt of cash could leave many Illinois localities even worse off than they were before. That boost in revenue allowed local governments to put off difficult budgeting decisions, and as that revenue dries up, municipalities will have to contend...

3 ways to balance Chicago’s next budget without tax hikes

By Ravi Mishra, Lauren Zuar
01/20/2025
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.

TAGS: Chicago

Chicago property taxes have doubled in 10 years, thanks to pensions

By Bryce Hill
12/17/2024
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.

Chicago leaders can still fix runaway budget, tax hikes

By Ravi Mishra, Lauren Zuar
12/13/2024
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.