The financial condition of U.S. municipalities continues to deteriorate, according to the recently-released 24th annual City Fiscal Condition Survey published by the National League of Cities (NLC). By the close of 2009, city revenues are projected to decline by 0.4% while expenditures rise by 2.5% compared to the previous year. Three top city revenue sources are expected to be flat or decline: sales tax revenues are predicted to fall by 3.8%, income tax receipts to drop by 1.3% and property…
This explanation of the Cook County 7% Expanded Homeowner Exemption program, which was intended to limit yearly increases to County homeowner property tax assessments, mentions a Civic Federation position statement that calls for changes in how assessments are determined. It also quotes from a Civic Federation blog post about the Cook County property tax system.
In this interview segment about Cook County property taxes on Chicago Public Television's "Chicago Tonight" news program, Assessor James Houlihan mentions the Civic Federation’s Effective Tax Rates report.
This article about Cook County’s FY2010 proposed budget and the efforts to rollback the County’s one cent sales tax increase from 2008 quotes the Civic Federation. The Federation says the high Cook County sales tax rate hinders business development and noted that the budget makes no moves toward reducing the tax, despite opposition to it from State lawmakers and County residents.
The Civic Federation supports the Chicago Transit Authority’s (CTA) proposed FY2010 budget of $1.29 billion. Facing significant public funding short falls, CTA plans to close its $300.9 million deficit with fare increases ranging from 25 to 75 cents per ride, the elimination of 1,021 full-time equivalent positions, reductions in bus and rail service and the transfer of capital funds into general operating funds. The Federation finds that the transfer of capital funds into operating funds and…
The Civic Federation opposes Cook County’s $3.0 billion FY2010 operating budget because it is predicated on the continuation of an unnecessary one percentage point sales tax increase and provides limited evidence of cost-saving efficiencies or structural reforms. In contrast, the Cook County Health and Hospital System is proposing efficiencies and eliminating vacant and non-front line positions. In the report the Federation calls on the Cook County Board of Commissioners to make the independent…
The Civic Federation released its analysis of the FY2010 DuPage County budget yesterday. In it the Federation announced its support for the County’s proposed financial plan due in large part to the County’s ability to maintain operation of its core programs while reducing its property tax levy in the midst of an economic recession. As many governments struggle to make ends meet this year, the County was able to sustain its current operations and workforce. Furlough days for County…
The Civic Federation supports the $521.2 million FY2010 DuPage County budget proposal because it maintains funding for core programs while providing property tax relief. The County has additionally improved its budget planning process and increased government transparency. Read the press release for the FY2010 DuPage County budget proposal here.
This article about recent criticisms of the Cook County Health and Hospitals System Board cites a Civic Federation analysis of the County budget, particularly its funding from the recent increase to the Cook County sales tax. The Federation also notes that lawmakers should act to prevent power over the currently-independent system from reverting to the Cook County Board of Commissioners in mid-2011.
The property tax rates released yesterday by the Cook County Clerk show that the composite tax rates in the City of Chicago and many municipalities declined slightly from the previous year. However, many property owners will still see higher property tax bills arriving in the mail soon. The Cook County property tax system is so complex that it is impossible to predict exactly how the new tax rates will affect an individual property owner’s bill. However, there are a few features of tax year…
