Chicago residents seeking a reprieve from high taxes and wasteful spending will find themselves out of luck under the city’s $16.7 billion fiscal year (FY) 2022 budget , a 30 percent increase over FY 2021. Mayor Lori Lightfoot (D) called it “the most progressive ever in the history” of the city.
The budget includes a $76.5 million increase in property taxes and allocates funds from federal COVID-19 relief programs for a universal basic income (UBI) program targeting low-income individuals. These provisions, promise to increase the burden on taxpayers, drive away businesses, and entrench unsustainable spending.
The projected yearly property tax increase […]
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