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

  1. that massive sucking sound you hear isn’t barry and rahm in the back room of the gentleman’s club, it’s the sound of people and businesses leaving Chicago in droves.

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