"In the beginning of a series of tax hikes that will drive up the cost of living for Chicago residents, Chicago Mayor Rahm Emanuel is proposing half a billion dollars in property tax hikes, along with another hundred million bucks in mandatory garbage collection fees – another tax hike, in effect.
Mayor Rahm Emanuel is poised to raise property taxes by $500 million for police and fire pensions and school construction and impose a garbage-collection fee to generate $100 million more, City Hall sources said Wednesday.
The $500 million property tax increase will cost the owner of a home valued at $250,000 roughly $500 more each year.
The garbage fee — widely viewed as a back-door property-tax hike — will be a monthly assessment of roughly $11 to $12 per household.
I am not sure how many houses are available for $250k in the Windy City.
I do know that a decent house costs 2 or 3 times that, and that million dollar properties are not uncommon in the city’s nicer neighborhoods.
As they say on the TV pitches, “ But wait! There’s more.”
The mayor’s 2016 budget also will include..."
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