Chicago-area public employee pension funding levels dropped significantly in FY2011, with unfunded liabilities for the ten funds analyzed rising to $32.0 billion from $27.4 billion in FY2010, an increase of 16.7% according to the most…
This blog continues the Civic Federation’s examination of indicators that can be used to measure the financial health of local governments. In order to measure financial condition, it is important to…
This blog examines some of the long-term obligations of the City of Chicago and its overlapping local governments using a per capita indicator based on bonded debt and unfunded pension liabilities. Rating agencies and other financial…
In the past year, Chicago residents have experienced several increases in the taxes imposed on cigarette and tobacco purchases. The new rates are shown in the following chart and are described in more detail below. (Click to enlarge.)…
This report compares effective property tax rates in selected communities around metropolitan Chicago and finds that effective tax rates in 2010 for residential and commercial properties rose for each of the 32 municipalities studied.…
Since 1988 the City of Chicago and its four pension funds have been party to the settlement of City of Chicago v. Korshak regarding how much the City, the funds and annuitants pay for healthcare. The City pays for a portion of the retiree…
