Posted on 10/02/2015 11:10:51 PM PDT by george76
Chicago Mayor Rahm Emanuel has disclosed that his record property tax hike plan entails significant cuts for nearly 300,000 homeowners, leaving Chicago businesses predicting they will face hikes of up to 50 percent.
The second-term mayor last week proposed a $544 million property tax increase, the city's biggest ever, to help fix one of the worst-funded city pension systems in America
...
Emanuel's office, which has said one in four dollars of the tax hike would come from the city's central business district, did not contest the 50-percent figure. But a mayoral aide insisted Emanuel's plan is his best effort to fairly distribute the cost of the tax increase.
"Mayor Emanuel believes that the necessary property tax increase for our police and fire pension funds should be borne by those who can best afford it
...
Combined, Chicago's police and fire pension funds had a deficit of $12.1 billion as of December, city records show. The fire pension system is only 23 percent funded, while police pensions is 26 percent funded.
(Excerpt) Read more at reuters.com ...
Idiot headline writer! A 50% increase does not double the tax. He must have graduated from a public school.
>> for potential doubling of property taxes
>> they will face hikes of up to 50 percent.
Is that like common-core thinking where effective potential is halfway between half and full potential?
“(In Oct. 1 story, corrects paragraph 5 to show that some homeowners will see a $195 increase, not $195 reduction, in property tax, and also that this would represent a 22 percent increase, not a 24 percent reduction”
A correction by the newspaper.
“Rahm: You want me to fire cops and firefighters instead?”
“Me: Fine
“People need to see things can’t go on like this.”
Just wonder if the people would notice that the cops and FF’s were gone?
Maybe if they were gone, the Blacks could shoot and burn until the place was flat and there were no more “inhabitants.” Kinda like what they’ve already done over in Detroit, and are fixin’ to do in Baltimore!
I'm sure it feels like it, though.
I'm sure it feels like it, though.
50%!!!!! RUN FOR THE HILLS!
Chicago’s police and fire pension funds had a deficit of $12.1 billion as of December, city records show. The fire pension system is only 23 percent funded, while police pensions is 26 percent funded.
outstanding!
I own rental property. The county gave a cut to homeowners by raising the commercial taxes. Their tax increases are a significant driver of rent prices. None of my renters vote.
Yes while white Cecile Rihards makes over $500K running business murdering babies (at the tax payers expense no less) and white elitists controlling the money are helping bring this country to its knees. This is not an ethnic problem but a heart problem of Americans. Americans who have turned their backs on the freedom and liberty offered in Christ to the bondage of human reasoning. We are reaping what we sow.
This is the terminal cancer that has infected America
Funny how cities in financial trouble always threaten to cut firefighters and cops first. How about cutting the liberal fluff agencies first like the second assistant microaggression reduction assistant secretary.
Mayor Emanuel believes that the necessary property tax increase for our police and fire pension funds should be borne by those who can best afford it...
Um ah...
Eat your peas
“Funny how cities in financial trouble always threaten to cut firefighters and cops first.”
While what you suggest is a nice idea, it flies in the face of the facts. Here in California we’ve had two (at least two) cities go through bankruptcy. In those cases about which I am familiar, the cops and the FF’s comprised from 75 top 80% of the city’s budget. These two groups, at least here, are highly unionized, and they have “partnered” with the RATs to create a “financial system” for themselves that is 1) way beyond what they’re worth and 2) is unsustainable. When I look at “all salaries over $100,000 in our county, the only people on that list that make more than the cops and the FF’s are the doctors at the county hospital and you can’t pronounce any of those guys names. Plus cops and FF’s get to “retire” at 50, so with all the goodies they get, we can expect to pay benefits and health care for them and their spouses for at least 30 years! Go do the math, each one who retires will cost the taxpayers something on the order of $9 million if they live to age 80. The individual “carrying costs” for each additional FF is so high, that fire districts resort to overtime instead of more staffing resulting in the FF’s being able to double their annual incomes.
The other day, I was in the most expensive supermarket in town. The FF’s were there “stocking up” for “the house.” So in addition to everything else, they eat high on the public hog. As they say, “ FF’s eat until they’re sleepy, then sleep until they’re hungry again!” BTW, our local fire district has had two chiefs retire within a two year timeframe. One at 50 and the other at 51. They were making $181,000 each. Their first-year pensions are $100k over that number because of a number of “accruals.” They are nothing but thieves in uniforms.
So go eliminate the “fluff agencies” and see just how that affects your city’s budget
Makes me wonder why Con-Agra moved to Chicago this week from Omaha.
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