Democrats in Congress released six years of former President Donald Trump’s tax returns on Friday, the culmination of a yearslong effort to learn about the finances of a onetime business mogul who broke decades of political precedent when he refused to voluntarily release the information as he sought the White House.
Taxes
Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. But a complex web of requirements, including where vehicles and batteries must be manufactured to qualify, is casting doubt on whether anyone can receive the full credit next year.
A federal lawsuit brought Thursday by two Black homeowners caught up in the Cook County propoerty tax sale system on behalf of themselves and everyone else who alleges the process violates the constitution and both federal and civil rights laws.
The measure is designed to prevent longtime Chicago residents from being pushed out of their homes by soaring property tax bills.
Many Cook County residents received an unwelcome surprise this month when their new property tax bill arrived with a hefty hike. The increase was especially noticeable for those living in largely Latino communities, according to an analysis by the Cook County Treasurer’s office.
If you are a homeowner in certain portions of the city, you’ve seen your bill go up quite a bit. On the predominately Latino Lower West Side, there was an increase of 46%, according to a new study.
The last time Chicago voters passed a binding referendum that applied to the entire city was 1885, according to city records. As supporters’ paths to the ballot have been nearly closed off, they have begun shifting the fight to the 2023 campaign for mayor and City Council.
Property taxes can be a doozy. Or rather, how they are calculated can be. WTTW News Explains walks you through the ins and outs of the process.
Delinquent properties are eligible for the Cook County Tax Sale, which is administered by the Cook County treasurer’s office. That’s where a private investor buys the debt and can make a big profit off of it.
The second-installment of property owners’ 2021 tax bills will be more than 150 days late amid months of bureaucratic wrangling and finger pointing among Cook County officials.
Dozens of Chicagoans who waited hours to get their turn to address the Chicago City Council were prevented from speaking because a majority of the Chicago City Council attended Monday's special meeting.
Supporters of the proposal say the change will help the nearly 66,000 Chicagoans who are unhoused by generating approximately $160 million annually.
The budget takes effect Jan. 1, 2023, approximately two months before Mayor Lori Lightfoot is set to ask voters for a second term as Chicago mayor, does not include a property tax hike to keep up with the soaring rate of inflation, or any other tax or fee hikes.
Mayor Lori Lightfoot’s plan to close a projected $170.6 million budget gap in 2023 relies on booming tax revenues that she said proves Chicago’s budget has fully recovered from the economic catastrophe caused by the COVID-19 pandemic.
Thanks to a “little-known loophole,” hedge funds, private equity firms and real estate investors have “siphoned” approximately $280 million from schools, parks, libraries, fire departments and other government agencies between September 2015 and September 2022 in Cook County.
It's rare when newspaper editorial boards and fiscal watchdog groups recommend that residents vote to increase their property taxes. But that's exactly the case as Cook County voters face a binding question on their election ballot: Do you want to pay a little more to help fund the Cook County Forest Preserves?
