The Civic Federation today released Consumer Taxes in Chicago: A Compilation of Selected Taxes in Place in the City of Chicago as of January 1, 2024. This annual report lists and describes selected consumer taxes within the City of Chicago. For ease of use by non-specialists, the taxes in this report are grouped under the following categories: sales taxes, tobacco and nicotine-related taxes, cannabis-related taxes, beverage-related taxes, utility-related taxes, accommodations-related taxes,…
Implementing a graduated real estate transfer tax as a source of new revenue has some advantages, but it is also extremely volatile. There has not been sufficient evaluation of the proposed graduated tax’s potential impact on the City’s real estate market and economy or a public explanation as to how the changes to the tax would impact tax burden by location and property use type. Through an analysis of transfer tax data obtained from the Illinois Department of Revenue, Civic Federation staff…
CHICAGO — The Civic Federation today released a data and policy analysis and position statement on the Bring Chicago Home referendum appearing on Chicago’s March 19 primary election ballot. The referendum, if passed, would change the City of Chicago’s real estate transfer tax upon buyers of properties to a graduated rate from the current flat rate in order to generate an estimated $100 million annually to allow the City of Chicago to expand services aimed at addressing the crises of…
Homelessness and a lack of housing affordability pose critical challenges for a growing number of people living in Chicago and at the same time contribute to a larger destabilization of the City’s ability to attract residents and businesses. These issues combined constitute the local dimensions of a national social and policy crisis that the City of Chicago and other governments must address with holistic attention to both their immediate humanitarian imperatives and impact on the larger…
In a joint letter sent Tuesday, the Civic Federation, the Better Government Association and the League of Women Voters of Chicago urged Chicago Mayor Brandon Johnson and Chicago’s City Council to improve transparency and public access to information regarding legislation being considered by the council. The coalition also provided several recommendations for process improvements.The group has…
The Better Government Association, the Civic Federation and the League of Women Voters of Chicago have called on Chicago’s City Council to improve transparency around Council and committee agenda items and increase public access to and ability to participate in meetings.CHICAGO — A coalition of three local civic organizations—the Better Government Association, the Civic Federation and the League of Women Voters of Chicago—sent a joint letter on Tuesday to Mayor Brandon Johnson and City Council…
A report released by the Cook County Clerk in November 2023 found that revenue from tax increment financing (TIF) districts in Cook County increased for a sixth straight year to a record $1.7 billion, including approximately $1.3 billion from the City of Chicago and $404.3 million from suburban Cook County. The $1.7 billion total accounts for a 7.5% increase from tax year 2021 and represents 9.6% of billed property taxes in the County. Thirteen TIF districts were closed in tax year 2022,…
As part of the total City of Chicago budget adopted for the 2024 fiscal year that began on January 1, the City Council approved a nearly $2.0 billion budget for the Chicago Police Department (CPD). The Police Department budget represents 12% of the City’s total $16.6 billion appropriations for FY2024 across all funds, including grants. Excluding grants, the CPD budget makes up approximately 15% of the City’s full $12.3 billion spending plan across all local funds.
In September 2023 the Chicago City Council approved placing a referendum on the March 2024 primary municipal election ballot asking voters to approve a change in the structure of the City’s real estate transfer tax (RETT) from the current flat rate to a graduated rate. The tax would be imposed on buyers of properties. The tax proposal has been described as a “mansion” tax, but it would apply to commercial and industrial as well as high value residential properties.
The following are summaries of the five most-read posts presented on the Civic Federation’s blog in 2023, listed here in chronological order. The posts examine issues related to Illinois taxes and debt, Tier 2 Benefits, the SAFE-T Act, and the tragic passing of Civic Federation President Laurence Msall.
