Click here to read the full report. Click here to read the press release for this report. AT A GLANCE Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition. This report presents the Civic Federation’s multi-year plan to stabilize Illinois’ finances. EXECUTIVE SUMMARY The State of Illinois FY2020 Roadmap describes the State of…
The Civic Federation recently released its annual Effective Property Tax Rates report, which examines two- and ten-year trends in estimated effective tax rates for residential, commercial and industrial property in selected northeastern Illinois communities. The report highlights that in the ten-year period between tax years 2007 and 2016, effective tax rates increased in all of the selected communities, including in Chicago, suburban Cook County and the collar counties (Lake, McHenry, Kane,…
Click here to read this issue brief. This annual brief provides a compilation of selected consumer taxes, including rates and descriptions, in place in the City of Chicago as of January 1, 2019. The taxes in this report are grouped under the following categories: sales taxes, tobacco-related taxes, beverage-related taxes, utility-related taxes, accommodations-related taxes, transportation-related taxes and other taxes.
This article covered the annual Effective Property Tax Rates report, which compared estimated effective property tax rates in the six-county region of northeastern Illinois between 2007 and 2016, the last year for which data are available. Both the report and the article examine the two- and ten-year trends in effective property tax rates for the selected communities. In the ten-year period between tax years 2007 and 2016, effective tax rates increased for every community studied. However…
Effective tax rates increased for all selected communities in ten-year period analyzed (CHICAGO) The Civic Federation released its annual estimate of effective property tax rates in the six-county region of northeastern Illinois today. The full report is available here. Among the 12 selected Cook County communities, Harvey had the highest effective tax rate for residential properties at 6.90% in tax year 2016, while Chicago had the lowest residential rate at 1.69%. Effective tax rates…
Click here to read the full report. Click here to read the press release for this analysis. AT A GLANCE This annual report compares estimated effective property tax rates in the six-county region of northeastern Illinois between 2007 and 2016, the last year for which data are available. Effective tax rates increased for all selected communities in the ten-year period analyzed. MAJOR FINDINGS Effective property tax rates are a measure of property tax burden…
Update: Collection of the City of Chicago’s tax on other tobacco products has been moved from a starting date of March 1, 2019 to no sooner than April 1, 2019 or 60 days following the plaintiff’s deadline to file an appeal, according to the City of Chicago’s Office of Budget and Management. Chicago businesses selling smokeless tobacco products are currently being notified about the tax and the remittance process. Content originally posted January 4, 2019 Annually the Civic Federation…
The Illinois General Assembly passed a budget for fiscal year 2019 on May 31, 2018 and Governor Rauner signed it into law on June 4, 2018. The Institute for Illinois' Fiscal Sustainability has since then continued to analyze the enacted State of Illinois budget, releasing periodic updates via the IIFS blog. All of the enacted budget content is gathered on this page for readers’ convenience. Illinois Passes Budget on Time; Fiscal Challenges Remain Originally published June 8, 2018…
As part of the FY2016 budget approval process during fall of 2015, the City of Chicago for the first time imposed a waste removal fee of $9.50 per month on approximately 600,000 residents already receiving waste removal services provided by City of Chicago employees. Chicago residences receiving City-provided garbage collection include single family homes and multi-unit buildings with four or fewer units. Chicago residents who live in properties with five or more units, as well as owners of…
2019 Civic Federation Legislative Priorities The Civic Federation's legislative priorities for 2019 include public employee pension reforms, consolidation of local government units in Illinois, enacting policies to rationalize the property tax system, creation of a Local Government Protection Authority, requiring the State of Illinois to build a rainy day fund, development and implementation of a capital improvement plan and improved…
