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Tax News

Tax News2019-08-30T14:42:31+00:00

City of Chicago has excess TIF funds

October 2nd, 2020|Categories: Economics|

As pandemic blitzes city finances, an unexpected cash windfall for Chicago government The city’s 140 tax-increment financing districts held $1.79 billion at 2019’s end, far above what officials had projected. Will Mayor Lori Lightfoot tap some of that to help balance a budget hit by lower tax revenues? By David Roeder and Elvia Malagón  This office building at Fulton Market [...]

California Split-Roll

September 25th, 2020|Categories: National|

It’s been 42 years since California voters sharply altered the state’s political dynamics by overwhelmingly passing Proposition 13 to slash property taxes, ignoring virtually unanimous opposition from leaders of both political parties. It’s also been 42 years since Proposition 13’s opponents — public employee unions and others with stakes in government spending — first began plotting how to overturn it. They assumed, [...]

Defund the Police? Not in Texas

August 21st, 2020|Categories: National|

Texas could freeze property taxes in cities that defund police, governor warns By Scottie Andrew, CNN Updated 1:27 PM ET, Thu August 20, 2020 Texas Gov. Greg Abbott warned cities that defund their police departments that the state will freeze their property taxes, a move meant to deter cities from shrinking police budgets. (CNN)Texas Gov. Greg Abbott has announced plans [...]

Indiana drops corporate tax rate as Illinois considers increasing it

July 29th, 2020|Categories: Illinois, Indiana|

Ben Szalinski JULY 17, 2020 Illinois Gov. J.B. Pritzker’s ‘fair tax’ would raise Illinois business taxes to the highest in the nation as neighboring Indiana cuts taxes to draw businesses across the border. Other Midwest states are working to be more business friendly, but Illinois is trying to tax businesses more. On July 1, Indiana reduced the corporate tax rate [...]

Chicago Tribune Editorial: Property tax failure another reason to vote against the tax referendum

July 15th, 2020|Categories: Cook County, Economics, Illinois|

By THE EDITORIAL BOARD CHICAGO TRIBUNE | JUL 14, 2020 AT 2:41 PM July is sweat-and-fret month for many taxpayers in Illinois: How will households slammed by job disruptions and a public health contagion now pay their property tax bills? Those local taxes gouge virtually everyone: Employers and homeowners — or whoever services their mortgages — make most of these [...]

Significant tax increases are starting to hit nationwide

July 10th, 2020|Categories: Cook County, Economics, National|

Major Tax Increases Are About To Slam America As Cities & States Want You To Pay For COVID Fallout Authored by Isaac Davis via Waking Times, Just prior to the global Coronavirus outbreak, serious signs of an emerging financial crisis began to emerge. As people were beginning to realize that yet another central bank engineered ‘bust’ was coming down on [...]

WPTA Webinar

June 11th, 2020|Categories: Cook County|

Mary Kate Fitzgerald, as president of the Women's Property Tax Association, presided over a webinar entitled  Rules of the Specific Objection Virtual Prove Up Program. Participants in the program were Chief Judge Sharon Sullivan, Judge Alfred Paul from the County Division of the Circuit Court of Cook County; Deputy Supervisor of the Real Estate Tax Division, Assistant State's Attorney Cristin Duffy; [...]