This blog examines some of the long-term obligations of the City of Chicago and its overlapping local governments using a per capita indicator based on bonded debt and unfunded pension liabilities. Rating agencies and other financial…
In the past year, Chicago residents have experienced several increases in the taxes imposed on cigarette and tobacco purchases. The new rates are shown in the following chart and are described in more detail below. (Click to enlarge.)…
This report compares effective property tax rates in selected communities around metropolitan Chicago and finds that effective tax rates in 2010 for residential and commercial properties rose for each of the 32 municipalities studied.…
Since 1988 the City of Chicago and its four pension funds have been party to the settlement of City of Chicago v. Korshak regarding how much the City, the funds and annuitants pay for healthcare. The City pays for a portion of the retiree…
A look back at the Civic Federation’s blog this year provides a preview of upcoming fiscal challenges for local governments in 2013. Pension Funding The most urgent fiscal challenge for Illinois governments continues to be the pension…
Last week marked the end of the budget season for the nine local governments monitored by the Civic Federation. These governments include: the City Colleges of Chicago, Chicago Public Schools (CPS), DuPage County, City of Chicago, Cook…
This report provides estimates of the total market value of real property in Cook County from 2001-2010 and shows how property value is spread among the City of Chicago, the northern and the southern suburbs. The full market value of real…
