Mayor Rahm Emanuel on Tuesday unveiled his proposed 2016 budget. Included is a $543 million property tax increase that would be phased in, beginning with a $318 million hike this year. Fees on garbage collection and ride-sharing services – including taxis – and a new tax on e-cigarettes aim to plug the city's budget hole.
property tax increase
Mayor: ‘We have to right our financial ship’
On this edition of Chicago Tonight: The Week in Review with Joel Weisman, our panel of guests discuss the mayor’s proposed property tax hike, the Independent Police Review Authority’s recommendation to fire an officer, and more on local business news, crime, and sports.
A plan to exempt low- and middle-income homeowners from the coming city-wide property tax hike runs into some resistance. Just who would benefit and who might bear more of the tax burden under the plan? Paris Schutz has the story.
The recently passed pension reform deal paves the way for big property tax increases. But will aldermen be able to stomach the vote to raise them, or will they defy Mayor Rahm Emanuel and scuttle his pension reform deal? We talk with Ald. John Arena (45th), Ald. Will Burns (4th), and Ald. George Cardenas (12th).