Cook County

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Cook County Releases Preliminary Budget Estimates for FY2014

On June 27, 2013, Cook County Board President Toni Preckwinkle released a report on preliminary budget estimates for fiscal year 2014, which begins on December 1, 2013 and ends November 30…

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Civic Federation Releases Status of Local Pension Funding FY2011 Report

This week the Civic Federation released its annual Status of Local Pension Funding report. The purpose of this report is to compile and analyze basic…

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Status of Local Pension Funding Fiscal Year 2011

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…

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The Final 2012 Cook County Equalization Factor is 2.8056

The Illinois Department of Revenue has announced that the final equalization factor for the Cook County 2012 property assessment year (taxes payable in…

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Cook County STAR Report Shows Savings for FY2012

This blog reviews the 2012 4th Quarter STAR (Set Targets Achieve Results) report for Cook County’s…

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State Requests Extension for Cook County Medicaid Expansion Plan

The State of Illinois has asked the federal government to extend Cook County’s Medicaid expansion plan to ensure that recipients remain covered after the end of 2013. In a letter on…

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Chicagoans' Long-Term Debt and Pension Obligations Per Capita Rose 185% Since 2002

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…

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Estimated Effective Property Tax Rates 2001-2010: Selected Municipalities in Northeastern Illinois

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.…

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January 1, 2013 Marks End of 2008 Cook County Sales Tax Increase

On July 1, 2008, a one percent sales tax increase went into effect in Cook County raising the home-rule tax from 0.75% to 1.75%. The increase brought the City of Chicago’s composite sales tax rate on general merchandise to 10.25%, the…

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What’s Next for Local Governments in 2013?

A look back at the Civic Federation’s blog this year provides a preview of upcoming fiscal challenges for local governments in 2013. Pension Funding The most urgent fiscal challenge for Illinois governments continues to be the pension…