This article is about how the property tax assessment load in the northwest suburbs of Cook County has recently shifted more onto homeowners. The Civic Federation says that the data is not cause for alarm due to the large number of exemptions and changes in property value assessment.
In 2010 the Civic Federation blog provided comprehensive information about government and fiscal issues across Illinois for the public, government officials and media. In a range of posts on topics from the effect Public Act 96-0889 would have on local government pension systems to explaining nuances of the Cook County property tax system, the Federation blog offered rapid-response commentary on current events and original research that accompanied the Federation’s publications. Issues…
This brief provides an updated compilation of selected consumer taxes, including rates and descriptions, in effect in the City of Chicago on December 1, 2010. 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.
State and local governments utilize fund accounting in order to demonstrate accountability and compliance with rules, laws and regulations.[1] For example, Cook County has a multitude of funds including a Public Safety Fund, Health Fund, an Annuity and Benefit Fund, a Bond and Interest Fund and a variety of special funds. These funds help demonstrate how much the County is spending on an activity and how it is utlizing restricted revenues. The paradox of fund accounting is while it is intended…
The Civic Federation’s position on the Cook County property tax system is the focus of this article. In the report, the Federation says the County’s property tax system is too complicated for average property owners to estimate their annual bills.
This article discusses the Civic Federation’s position on the Cook County property tax system, which says the County should make the system simpler and fairer.
This report articulates the Civic Federation’s overall position on the Cook County property tax system. The report expresses the Federation’s vision for a better property tax system and serves as a framework against which proposals to change the Cook County property tax system may be evaluated. The report identifies positive and negative features of the current system as well as unintended consequences. It should be read in conjunction with four descriptive primers recently published by the…
(CHICAGO) The Civic Federation stakes out its comprehensive position on the Cook County property tax system in a new report released today. The goal of the report is not only to describe what a better property tax system might look like, but also to serve as a framework that will help government officials and residents evaluate proposals to change the property tax. Together with a series of four educational reports, the new position paper represents the Federation’s most recent thinking on how…
The Civic Federation supports the Metropolitan Water Reclamation District’s FY2011 Tentative Budget of nearly $1.0 billion. The tentative budget is a $681.1 million, or 41.1% decrease over final adjusted FY2010 appropriations. This decline is largely due to decreases in appropriations for the Construction Fund and Capital Improvements Bond Fund. The District plans to reduce Corporate Fund spending by $14.2 million or 4.0% from FY2010 appropriations and raise the property tax levy for tax capped…
CHICAGO — The Civic Federation supports the nearly $1 billion tentative budget proposed by the Metropolitan Water Reclamation District of Greater Chicago (MWRD). The District will reduce staffing levels and Corporate Fund spending as a response to difficult economic conditions. However in a 39-page report released today, the Federation voices concern about the continued decline of the fiscal health of the MWRD pension fund. The total MWRD budget fluctuates from year to year due to changes in…
