12.04.19
A recent report shows that Illinois’ statutorily required contributions to its five pension funds are expected to total $9.8 billion in the upcoming fiscal year. How much of the State’s budget will be...
Blogs
11.26.19
The Chicago Board of Education adopted an amended budget for the Chicago Public Schools (CPS) 2020 fiscal year on November 20, 2019 to account for changes reflected in the collective bargaining agreements reached between Chicago Public Schools and the Chicago Teachers Union (CTU) and the Service...
11.21.19
Now that the Cook County Forest Preserve District’s $124.7 million budget has been approved without the help of a referendum to increase property tax revenue , Forest Preserve...
11.15.19
The Chicago Transit Authority (CTA) has historically received a reduced fare reimbursement, or subsidy, from the State of Illinois for providing free and discounted rides to eligible riders including seniors, people with disabilities, military and students. The CTA provides nearly 100 million...
11.08.19
For more than a decade, the Civic Federation has strongly supported consolidation of hundreds of police and fire department pension funds across Illinois to improve...
11.01.19
The Civic Federation recently released its annual Effective Property Tax Rates report , which examines two- and ten-year trends in estimated effective tax...
10.24.19
The Civic Federation recently released its annual Effective Property Tax Rates report , which examines two- and ten-year trends in estimated effective tax...
10.18.19
Since the beginning of FY2009, the Cook County Pension Fund has seen an increase in its liabilities not covered by assets, or the unfunded liability, of nearly $3.8 billion. The increase is attributable to a number of factors and has fluctuated over the years.
The following table...
10.11.19
In her “State of the City” address in August, Chicago Mayor Lori Lightfoot stated her administration will pursue a graduated real estate transfer tax...
10.03.19
The Civic Federation recently released its annual estimate of the full value of property in Cook County . The 2017 estimated value of all Cook County real...
09.27.19
Supporters of a graduated income tax have emphasized its potential to stabilize the State of Illinois’ shaky finances and reduce pressure on local property taxes. However, like the previous income tax...
09.19.19
The City of Chicago levies taxes on both hotel operations and occupancy. The City charges a 4.5% hotel accommodations tax and a 6.0% additional home share tax on...
09.13.19
In the State of Illinois, non-home rule units of government located in counties subject to the Property Tax Extension Limitation Law (PTELL) are limited in the size of their annual property tax extension to 5% or the increase in the Consumer Price Index (CPI), whichever is less. However, the...
09.06.19
The City of Chicago recently released its Budget Forecast for FY2020 , which provides financial estimates for the City’s fiscal year ending on December 31, 2019 and a forecast for the...
08.23.19
Cook County’s public health system has sounded an alarm about the increasing cost of services for which it does not receive reimbursement, saying that Cook County Health will not be able to fulfill its mission of providing care to all—regardless...