In recent developments from the Chicago Tribune, Mayor Rahm Emanuel is reportedly planning to propose one of the largest property tax hikes in modern Chicago history. This move aims to generate sufficient funds to meet a significant pension obligation for the city's police and firefighters next year. According to City Council insiders and sources close to City Hall, this decision comes after months of closed-door discussions with key advisors.
The proposed tax increase could range between $450 million and $550 million, with Alderman Patrick O'Connor suggesting a specific amount of $450 million earmarked for police and fire pensions, along with an additional $50 million allocated to support a Chicago Public Schools infrastructure project. O'Connor noted that these measures are intended to address persistent budgetary shortfalls and reduce reliance on risky financial practices like "scoop-and-toss" borrowing, where debts are deferred to future years at greater expense. The administration is also focused on stabilizing the police and fire pension systems.
Beyond the property tax hike, Emanuel is considering introducing new taxes on garbage collection, electronic cigarettes, and smokeless tobacco products. Additionally, there are plans for a per-ride fee applicable to both traditional taxis and ride-sharing services like Uber and Lyft. While specifics regarding the e-cigarette tax remain unclear, Alderman Edward Burke has previously floated a proposal for a $1 fee per ride, which Emanuel has hinted at incorporating into his upcoming budget presentation scheduled for September 22nd.
Emanuel's approach contrasts sharply with his earlier strategy during his first term, where he opted for numerous smaller tax and fee adjustments rather than larger, more visible increases. These incremental changes effectively amounted to a 60% rise in property taxes for the average homeowner. Despite this, Emanuel successfully portrayed himself as having avoided substantial hikes in property, sales, or gas taxes throughout his tenure.
However, addressing the looming pension obligations has proven unavoidable. Currently, pension payments amount to approximately $478 million annually. Next year, this figure is set to jump by $538 million under existing state laws unless Governor Bruce Rauner approves legislation allowing for a gradual implementation of these increased payments. Although a bill proposing such adjustments passed in May, legislative gridlock at the state level has delayed its submission to the governor.
The magnitude of the proposed property tax increase surpasses even Emanuel's own description of the largest previous increase in Chicago's history. Back in 1987, under Mayor Harold Washington, property taxes rose by $79.9 million, equivalent to around $167.8 million adjusted for inflation today. Similarly, in 2008, under Mayor Daley, the increase stood at $86.5 million, or roughly $96 million in contemporary terms.
These efforts reflect the city's ongoing struggle to manage its fiscal challenges while ensuring critical public services remain adequately funded.市长拉姆·伊曼纽尔的计划ä¸ä»…åæ˜ äº†å¯¹å½“å‰è´¢æ”¿çŠ¶å†µçš„紧迫感，也显示了对未æ¥åŸŽå¸‚å‘展的长远考é‡ã€‚
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