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Chicago's Property Taxes Jump Nearly 13 Percent
Chicagoist ^ | 13 April 2016 | Stephen Gossett

Posted on 06/17/2016 6:56:31 AM PDT by Lorianne

Illinois residents already pay the second-highest property taxes in the nation, according to the Tax Foundation. Now Chicago homeowners can expect higher rates still. On average, they face a 12.8 percent increase this year, according to a release form the office of Cook County Clerk David Orr. That figure translates to a median $412.87 hike.

Suburban homeowners, meanwhile, will see a slight increase, +1.7 percent in the North Suburbs and +2.1 percent in the South Suburbs.

We've expected the hike since last year, as the massive debt load and unfunded pension crisis prompted the City of Chicago to pass a $588 million property increase, which will take place through 2018. This year’s $363 million bill represents the largest bill. In 2015, Mayor Rahm Emanuel promised safeguards that would protect owners of homes valued at $250,000 or less-a solution that never materialized. Emanuel spoke Tuesday about working with aldermen on a new option: a post-hoc rebate that, according to the Tribune, is highly unlikely to be passed before payments are due on Aug. 1.

(Excerpt) Read more at chicagoist.com ...


TOPICS: Government; US: Illinois
KEYWORDS:

1 posted on 06/17/2016 6:56:31 AM PDT by Lorianne
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To: Lorianne

By far the biggest expense of any politician or political organization is the purchase of votes from those with their hands out.

It’s the reason that John Q. Public watches his bank account plundered every April.


2 posted on 06/17/2016 6:59:10 AM PDT by Jack Hammer
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To: Lorianne

But just think of all the wonderful public services that the city will provide with that tax increase!!!


3 posted on 06/17/2016 7:05:32 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: Lorianne

That’s because everybody’s dying to live there.

Or is it, everybody who lives there is dying?


4 posted on 06/17/2016 7:09:44 AM PDT by Jagman
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To: Jagman

There was an article recently ,which said that Chicago had lost about 10% of its black population in recent years.

Population is declining overall, and blacks who can are moving out of that city. Unfortunately for Rahm, the blacks left behind are the least productive welfare class. Those with any ambition who work for a living and pay taxes, are moving out.

Chicago has been run by Democrats for generations. There’s no way they blame their financial problems on Republicans.


5 posted on 06/17/2016 7:17:49 AM PDT by Dilbert San Diego
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To: Lorianne

Chicago’s very close to the tipping point where massive numbers of people leave the city. It could be the next ‘detroit’...


6 posted on 06/17/2016 7:21:18 AM PDT by GOPJ ("9-in-10 GOP outsiders say 4-in-10 GOP insiderds should STFU". - Freeper RoosterRedux)
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To: Dilbert San Diego

“Population is declining overall, and blacks who can are moving out of that city. Unfortunately for Rahm, the blacks left behind are the least productive welfare class. Those with any ambition who work for a living and pay taxes, are moving out.”

The Detroit effect!


7 posted on 06/17/2016 7:27:10 AM PDT by Beagle8U (Giggles the pig for POTUS - 2016)
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To: Lorianne

C(r)ook County property taxes are also increasing 10% on average.


8 posted on 06/17/2016 7:35:38 AM PDT by twoputt
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To: Lorianne

Predictable death spiral, accelerated by 7 years of Obama economic “prosperity” and the results of the Ferguson effect on the city’s crime and murder rate. Have fun, Tiny Dancer!


9 posted on 06/17/2016 7:44:36 AM PDT by Stosh
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To: Lorianne
Taxpayers pay and pay....politicians pocket and pocket

She's Obama's high-paid factotum but Valerie Jarrett STILL Receives A $36K Annual Pension For Part-Time Chicago Transit Job.

Taxpayers need to find out the number of Chicago city checks Valerie is cashing----she had other city jobs in Chicago.

Wonder how many transportation bonds were issued while Jarrett was at Chicago Transit? Her pension payout would pale against her hidden income from lucrative Chicago bond deals. Read on.

A muni-bond expert exposed Chicagos bond financing scheme as a house of cards. An examination of the city's bond documents uncovered taxpayers paying billions for greedy politicians shady financial legerdemain, including:

<><>(1) using long-term financing to cover day-to-day expenses,

<><>(2) using bond proceeds to pay pension obligations, and,

<><> (3) misappropriating returns from the interest rate swap portfolio (a sub rosa ATM for paying the citys day to day expenses).

The stench from Chicago's poplitical sleaze is permeating the putrid city hall air... starting w/ Obama's ex-COS Chi/Mayor Rahm Emanuel. ....and remember, these kingpins of Chicago criminal politics moved into DC with Chicago kingpin Barack Obama.

=================================================

ANALYSIS Bonding is eternal taxation----the insider deals bonding companies made w/ shady pols to get bonding business would tell a tale of greedy pols accumulating riches through massive govt corruption.If these bonding deals were effectuated by way of referendum at the ballot box----and misled investors into buying tax-fee muni bonds----the SEC would be interested.

EMAIL enforcement@sec.gov

Massive govt corruption might include forgery, falsification of official records, fraudulent state budget entries, tax evasion, illegal wire-transfers, misuse of public office.

Tax-exempt municipal bond investors (including public education bond investors)-- have legal grounds to sue if they were deceived about deceptive bond offerings. In many cases, bond issues are approved by voters---at the ballot box--so that voters may have also been misled WRT uses of fraudulent bond offerings.

Also culpable are:

<><> bonding companies underwriting possible fraudulent bond issues;

<><> banks holding possibly fraudulent bond proceeds;

<><> State/city's modus operandi in allocating tax-exempt bond proceeds,

<><> the sub rosa acceptance of bond proceeds.

<><> state/city vendors accepting possible fraudulent bond proceeds.

<><> publicly-funded state/city agencies advocating the uses of fraudulent bond proceeds.

===========================================

The SEC, FBI, banking overight agencies, and the IRS, would be interested in the activities of state/city entities WRT bonding.

EMAIL---FBI TIPS PAGE https://tips.fbi.gov

EMAIL--enforcement@SEC.gov

Contact the IRS Fraud Unit

EMAIL Banking oversight agencies

============================================

Taxpayers should find out which banks are facilitating this.
<><> Which banks are designated the official repositories of municipal tax dollars.
<><> Which banks are dispensing the ill-gotten proceeds....and to whom.

10 posted on 06/17/2016 7:53:53 AM PDT by Liz (SAFE PLACE? A liberal's mind. Nothing's there. Nothing penetrates it.)
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To: Lorianne

Not only must you live in fear of getting shot you now also have to pay more to live in fear of getting shot. Leftist utopia.


11 posted on 06/17/2016 8:10:10 AM PDT by vpintheak (Freedom is not equality; and equality is not freedom!)
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To: Dilbert San Diego
Chicago has been run by Democrats for generations. There’s no way they blame their financial problems on Republicans.

Your statement assumes, 'a priori', an intelligent voter, which, given Chicago history, is a complete fallacy. The ability of a politician to obfuscate, spin, deny and cloud any issue is as close to infinite as is possible.

12 posted on 06/17/2016 8:30:56 AM PDT by SES1066 (Quality, Speed or Economical - Any 2 of 3 except in government - 1 at best but never #3!)
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To: GOPJ

> Chicago’s very close to the tipping point where massive numbers of people leave the city.

The North side is prosperous, but portions of the West and South sides should just be leveled and fenced off.


13 posted on 06/17/2016 8:33:28 AM PDT by glorgau
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To: glorgau

Detroit had some beautiful neighborhoods once too... BLM is attempting to bully the ‘old oh so white wealthy’... and they know how to do it.


14 posted on 06/17/2016 8:50:57 AM PDT by GOPJ (When a Muslim terrorist shoots up a gay bar, itÂ’s not gun violence.ItÂ’s Islamic terrorism.Greenfie)
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To: Lorianne

Chicago. The next Detroit.


15 posted on 06/17/2016 9:04:50 AM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: Dilbert San Diego

The blame the republican governor all the time.


16 posted on 06/17/2016 10:41:35 AM PDT by napscoordinator (Trump/Hunter, jr for President/Vice President 2016)
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To: Lorianne

Got to pay for their shooting war in the inner city.


17 posted on 06/17/2016 11:32:14 AM PDT by Albion Wilde ("We can't fix a rigged system by relying on the people who rigged it." --Donald Trump, 6/7/16)
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To: Lorianne

Their taxes are going up more than I pay for a full year for a 2000 Sq Ft house in Alabama.


18 posted on 06/17/2016 11:35:50 AM PDT by commish (Freedom tastes Sweetest to those who have fought to preserve it!)
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To: Lorianne

Somebody’s gotta pay for the failed social policies.


19 posted on 06/17/2016 11:36:40 AM PDT by Ted Grant
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