Posted on 09/25/2019 12:23:54 PM PDT by DUMBGRUNT
If it weren’t for the whole Wisconsin Winter thing we would!
LOL
Understandable, though we love our snowmobiles and our cross country skis! :)
The transfer-tax hike is one of dozens of changes in city policy the group would like to see, including boosting use of South and West Side Metra lines, revamping density bonuses some developers get to encourage more work in low-income neighborhoods, and developing plans to phase out the use of lead water-feeder lines.
Like the Romans of old, they've all gone nuts!
In 1998 I paid 163K for a house in Chicago which I did 40K improvements and paid $2413 per annum property taxes my last 2 years. In 2003 I sold this house for 325K. Today Zillow makes a zestimate of 337K and looking at comparable sales this looks about right. The 2017 property taxes is $5953. The State income tax rate has gone from 3% to 5%. The Sales Tax rate has gone from about 8.25% up to 10.25%. And salaries have remained flat while prices are going up, up, and up. Families in Chicagoland have been getting squeezed the past 16 years bigtime. And now the pension crisis is well-known and not going to disappear.
Its absurd to have any pension plan having an Assumed Return Rate over 3x the 10Y treasury rate. But that’s what we have in Chicago now. If they were to get realistic then they’d be shown to be even tens of billions more in the hole than they are presently.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.