President Joe Biden wants to increase the Medicare tax rate from 3.8% to 5% on income exceeding $400,000 per year, including salaries and capital gains. The White House did not provide specific cost-saving estimates with the proposal

The first installment of property owners’ 2022 tax bills will be due approximately a month later than usual because of delays last year, officials said.

If homeowners are delinquent more than a year on making property tax payments, they’re at risk of owing large interest payments to private investors who buy up that debt. “It’s the poorest people paying the richest people,” Cook County Treasurer Maria Pappas said.

Teresa Fraga of the Pilsen Neighbors Community Council has been a homeowner in Pilsen for the last 43 years. She said she was expecting a $2,500 bill in December but instead received one for $14,279.

Illinois is among 21 states that issued relief checks to residents last year. The IRS provided 11th hour guidance Friday, announcing those checks aren’t subject to federal taxes.

Chicago mayoral candidate Paul Vallas properly claimed a home in south suburban Palos Heights as his legal permanent residence, entitling him to tax breaks, according to the results of a brief probe by the Cook County Assessor’s Office.

A new report from the Cook County Treasurer's Office said property tax collection rates are historically low in low-income and mostly minority south suburbs.

Vallas, who has been registered to vote in Chicago at an apartment in Bridgeport for less than a year, declined to answer questions about his residency directly from WTTW News.

Some longtime Latino residents in the Logan Square community say they don’t know how long they will be able to keep paying property tax hikes, maintain a home and survive.

Demolishing the record set in each of the past two years, $1.22 billion poured into the city’s 129 TIF funds in 2021, according to a report from the office of the Cook County Clerk.

With less than two months until Election Day, Mayor Lori Lightfoot touts the $16.4 billion spending plan she crafted as a “stability budget” for a city enjoying a faster than expected recovery from the COVID-19 pandemic. Here’s what it does.

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.

 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.