Mayor Rahm Emanuel announced September 29 that the City of Chicago’s FY2013 budget would not include any increased taxes, fines or fees. It will instead focus on reforms, cuts and efficiencies. The Civic Federation praised the City for focusing on right-sizing its operations to match existing revenues.
A $1-per-pack cigarette tax increase enacted by the State of Illinois in June to help fund the State’s Medicaid program is bringing in far less revenue than originally expected and could fall short of projections by as much as $125.7 million. However, due to the way the tax was enacted it is not expected to have a major impact on Medicaid funding. The Illinois Department of Revenue (IDOR) has reduced the estimate of additional revenues attributable to the cigarette tax increase citing a run on…
Second installment property tax bills for Cook County residents are due this week, the earliest due date since at least 1977, according to the elected officials associated with the Cook County property tax process. Cook County Clerk David Orr’s office released the 2011 Cook County Tax Rates Report on June 26, 2012. The report lists property tax rates for all taxing districts in Cook County and provides sample composite rates for many municipalities. The composite rate is the total tax rate that…
On April 24, 2012, the City Council passed an ordinance establishing an Infrastructure Trust for the City of Chicago. Introduced by Mayor Rahm Emanuel, the Trust is an alternative source of funding that will be used to attract private sector funds to rebuild the City’s aging infrastructure. At a time when capital funding from the federal government and State of Illinois is scarce and the City’s debt levels are high, the Trust aims to open investment opportunities from new sources that would…
This editorial discusses Governor Quinn’s moratorium on the State’s review of property tax exemptions for non-profit hospitals. The moratorium was lifted on March 1 after negotiators were unable to reach an agreement on exemption standards. The editorial cites the Civic Federation’s position statement, which provides guidelines as to how the General Assembly could establish clear, definable standards of eligibility for the exemption.
This article discusses the various proposals emerging in response to legal and legislative uncertainty surrounding property tax exemptions for non-profit hospitals. The Civic Federation’s position statement provides guidelines as to how the General Assembly could establish clear, definable standards of eligibility for the exemption.
This article examines the challenge facing several states that enacted temporary tax increases during the recession and now face long-term budget challenges as the increases are scheduled to sunset. The Civic Federation says that the State of Illinois still has billions in unpaid bills even with extra revenue from a temporary income tax increase that is scheduled to partially sunset in 2015.
The Civic Federation supports the continuation of property tax exemptions for non-profit hospitals that qualify as charitable organizations. However, the General Assembly must establish clear, definable standards of eligibility. This will enable hospitals to be certain about the minimum amount and kinds of care they are required to provide in order to receive a charitable designation from the State of Illinois and will provide the Illinois Department of Revenue with definitive,…
This brief provides an updated compilation of selected consumer taxes, including rates and descriptions, in effect in the City of Chicago on February 2, 2012. It includes such taxes as the sales tax, gas tax, amusement tax, lease tax, hotel tax, liquor tax, restaurant tax, soft drink tax, wheel tax and parking tax.
On February 8, 2012, the Chicago Park District Board of Commissioners unanimously voted to provide the Institute of Puerto Rican Arts and Culture (IPRAC) $243,407 in funds from the District’s personal property tax replacement (PPRT) receipts. The PPRT is a corporate income tax that is collected by the State of Illinois and remitted to local governments; it was implemented in 1979 after local personal property taxes were abolished. The monies for the Institute will come from the District’s…
