In the last decade, the state has been climbing the charts—and could pass New Jersey this year.
With all the snow this week and the brutal cold forecast for Chicago next week, it’s no wonder so many of us are dreaming of Hawaii right about now. But if you own your home, those daydreams may not only be weather-related: in Hawaii, homeowners are taxed at about one-eighth the rate that Illinois homeowners pay.
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Rush Limbaugh was reporting this morning on his show (11:00 AM CST on WLS AM 890) that despite this phenomenal property tax rate, Chicago Mayor Rahm Emmanual has plans to double it and raise rates even higher. Why would he commit such lunacy?
Chicago is facing a deadline soon to pay up on its belated Pension Bill. City workers, such as Cops, Fireman, Streets and San and more have a sweet pension deal that pays them 100% of their salary after 15 years on the job. So, many work the required time, and retire at an early age (45 if you started at 30).
This has led to a crisis for the City, and the bill is about to come due. The State has the same problem, and uses the same sort of system to keep its army of political patronage flunkies happy. But as long as the Democratic machine runs things in Springfield and Chicago follows suit, all is well - UNTIL THE PIPER MUST BE PAID!
But if that means a BIG PROPERTY TAX INCRASE, IT'S CURTAINS FOR CHICAGO NEIGHBORHOODS like Wicker Park, Logan Square and the Near South Side that have been experiencing a welcome re-birth after decades of slumber, decay and crime. With a nascent High Tech corridor, a small but vibrant film industry and bio-tech linked to Chicago universities, not is a terrible time to give Chicago a punch in the gut like this would be.
Of course Chicago City Hall could care less about property owners since most are WASP's. It's a hot issue, and WTTW is discussing it at this moment.
The "Pension Crisis" is one of the issues in the upcoming Illinois Primary, with only Bruce Rauner offering a real solution to change this taxpayer-funded political payola. But any attempts to change the system are met with a fight from the Unions and their politcal beneficiaries:
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