Daily Chicagoan: What New City Tax Hikes Mean for Your Wallet

Have you been wondering how Chicago's new budget will impact your wallet in 2025? We've got answers. Start your Monday off with WTTW News. (Michael Izquierdo / WTTW News) Chicagoans won’t see their 2025 property tax bills rise to cover the cost of a city-imposed increase, but they will have to dig deeper to cover a host of tax and fee hikes that a deeply divided Chicago City Council approved to fill a massive budget gap. The city’s new budget, which takes effect Wednesday, closed a $982.4 million gap with the help of a variety of tax and fee hikes.

 

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