Chicago: A ‘perfect storm’ of tax hikes – IOTW Report

Chicago: A ‘perfect storm’ of tax hikes

FOX– Chicago already is one of the most expensive cities in the world — No. 7, according to a report by financial firm UBS.

But the cost of living soon could rise even more, if Chicago Mayor Rahm Emanuel gets his way. 

The Windy City mayor is pushing a $500 million property tax increase, the largest in the city’s history, as a way to balance an almost $700 million deficit.

On top of that, surrounding Cook County just raised the sales tax to the highest in the nation, at 10.25 percent, while considering a hodgepodge of other fees. And the state of Illinois faces its own budget crisis, and will likely need to raise taxes to get out of it.  more here

 

7 Comments on Chicago: A ‘perfect storm’ of tax hikes

Comments are closed.