CHICAGO – The Civic Federation released six reports in October and November, covering an array of local government finance and tax topics, including the estimated full market value of real estate in Cook County, Cook County’s pension fund, effective property tax rates, the City of Chicago debt burden, and the State of Illinois’ FY2025 capital budget, among others.
This report provides an estimate of the full market value of property in Cook County between tax years 2013 and 2022 using data provided by the Cook County Assessor’s Office and the Illinois Department of Revenue. Data to estimate the full value of real estate in 2023 and 2024 using this report’s methodology will not be available for several years.
In this short report, the Civic Federation analyzes indicators of the fiscal health of the Cook County Pension Fund based on the most recent FY2023 actuarial report as of December 31, 2023. Compared to many other pension funds in Illinois, Cook County’s pension fund is in a more sustainable financial situation. This is primarily due to employer contributions made by the County above and beyond the amount required by state statute in recent years. The County began making supplemental pension…
In a report released today, the Civic Federation shared the findings of its analysis of Cook County’s proposed FY2025 budget of $9.89 billion, noting the continuation of prudent financial practices that has resulted in the Preckwinkle administration proposing a responsibly structured FY2025 budget without burdening residents with tax and fee increases. The County is benefitting from higher-than-expected natural revenue growth and lower-than-expected healthcare and payroll costs, both of which…
CHICAGO – In a report released today, the Civic Federation shared the findings of its analysis of Cook County’s proposed FY2025 budget of $9.89 billion, noting the continuation of prudent financial practices that has resulted in the Preckwinkle administration proposing a responsibly structured FY2025 budget without burdening residents with tax and fee increases. The County is benefitting from higher-than-expected natural revenue growth and lower-than-expected healthcare and payroll costs, both…
This analysis of Cook County’s proposed FY2025 budget finds the Preckwinkle Administration has produced a responsible budget with no tax or fee increases, and that the County remains in a strong position to navigate future projected shortfalls.
The Civic Federation released our latest report on effective property tax rates in selected communities in Northeast Illinois earlier this month. The report looks at ten years of data from 2013-2022, the most recent year for which data are available. That period encompasses the aftermath of the Great Recession of 2007-2009 and subsequent growth in property values. Generally, effective residential property tax rates have declined across the board in the 12 Cook County communities studied in…
This report estimates the tax year 2022 (taxes payable in 2023) effective rates for selected municipalities in northeastern Illinois. Use our interactive property tax maps to compare residential, commercial and industrial property tax rates across the region.
The Civic Federation today released a position paper calling on the Illinois General Assembly to pursue foundational structural reform of Northeastern Illinois’ mass transit systems—the Chicago Transit Authority (CTA), Metra, Pace and the Regional Transit Authority (RTA)—by centralizing the service boards and operations under a single, duly empowered and resourced regional transit agency. Doing so would allow for more efficient, effective, integrated and equitable service delivery as well as…
CHICAGO — The Civic Federation today released a position paper calling on the Illinois General Assembly to pursue foundational structural reform of Northeastern Illinois’ mass transit systems—the Chicago Transit Authority (CTA), Metra, Pace and the Regional Transit Authority (RTA)—by centralizing the service boards and operations under a single, duly empowered and resourced regional transit agency. Doing so would allow for more efficient, effective, integrated and equitable service delivery as…
