Taxes
Supreme Court to decide whether lower courts improperly allowed suit to proceed
Mauro Glorioso, a former chair of the Illinois Property Tax Appeal Board who later became its executive director, sued the newspaper in 2021, alleging he was defamed by the Sun-Times’ coverage of the board’s handling of a property tax appeal for Trump Tower in downtown Chicago.
Illinois offers a tax credit worth up to $750 for “qualified education expenses” at both public and private schools, including book rental, lab fees and tuition.
Both Donald Trump and Kamala Harris Want to End Federal Taxes on Tips. Why That’s Difficult to Enact
Both candidates unveiled their plans in Nevada, a state with one of the highest concentrations of tipped service workers in the country.
The Forest Preserve District of DuPage County is asking voters to approve a 0.035% increase in property taxes when they head to the polls on Nov. 5.
In 15 towns, of which all but two are home to a majority of Black residents, the increase to property tax bills was 30%. But some local leaders are pledging not to raise municipal taxes in order to ease the impact on community members.
“Many homeowners are going to be shocked and angry when they get their bills,” Cook County Treasurer Maria Pappas said.
Property tax bills for Cook County residents are available online at cookcountytreasurer.com and should hit mailboxes this week.
DraftKings, FanDuel and other betting apps are facing a bigger tax hit in Illinois following changes to tax policy this year. New Jersey, Massachusetts and other states have also tried to raise taxes on the industry or plan to.
For low- and middle-class families feeling the pressures from the rising costs of living, the passing of a state-level child tax credit is a “big win,” said Ameya Pawar, a senior advisor at Economic Security Project and former alderperson of Chicago's 47th Ward.
“Illinois cannot simply hope that its remaining fiscal challenges will disappear on their own,” the Civic Federation says in a new report. “They will not until they are addressed head on.”
Last week’s announcement of a proposed new domed, lakeside stadium brought with it more questions. Namely, the price tag.
The approval represents a major win for Mayor Brandon Johnson, who has touted the proposal as a way to make Chicago a more equitable place to live by “investing in people” and expanding the city’s economic capacity — without raising taxes on Chicago property owners.
Tax Day reveals a major split in how Joe Biden and Donald Trump would govern: The presidential candidates have conflicting ideas about how much to reveal about their own finances and the best ways to boost the economy through tax policy.
Civic Federation President Joseph Ferguson called the complicated proposal to phase out the city’s decades-long reliance on tax increment financing districts, known as TIFs, “sensible” and “responsible.”
After 12,634 mail-in ballots were counted by Chicago election officials late Friday, the results were essentially unchanged. Approximately 53% of voters rejected Ballot Question No. 1, better known as Bring Chicago Home, according to unofficial totals.
The mayor has touted the proposal as a fulfillment of a promise he made during the 2023 campaign to make Chicago a more equitable place to live by “investing in people” and expanding the city’s economic capacity — without raising taxes on Chicago property owners.