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 years $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 ...
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.
But just think of all the wonderful public services that the city will provide with that tax increase!!!
That’s because everybody’s dying to live there.
Or is it, everybody who lives there is dying?
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.
Chicago’s very close to the tipping point where massive numbers of people leave the city. It could be the next ‘detroit’...
“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!
C(r)ook County property taxes are also increasing 10% on average.
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!
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.
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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.
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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
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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.
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.
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.
> Chicagos 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.
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.
Chicago. The next Detroit.
The blame the republican governor all the time.
Got to pay for their shooting war in the inner city.
Their taxes are going up more than I pay for a full year for a 2000 Sq Ft house in Alabama.
Somebody’s gotta pay for the failed social policies.
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