Chicago Mayor Lori Lightfoot Sept. 20 proposed a $16.7 billion budget that includes a $76.5 million property tax hike, which – after accounting for revenue from new property – would raise property tax bills by an average of $72 to $180 , depending on a homeowner’s region of the city. The tax increase is modest compared to the $543 million increase under Mayor Rahm Emanuel in 2015 , and less than the $94 million property tax hike in Lightfoot’s budget last year. Still, it would add an unnecessary burden to a city economy still recovering from COVID-19 and was […]
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