Written by Austin Berg
Chicago City Council passed the largest property-tax hike in modern city history by a vote of 36-14 on Oct. 28, approving Mayor Rahm Emanuel’s 2016 budget proposal.
The budget includes a $588 million property-tax hike to be phased in over the next four years.
In short: Chicagoans are likely to take a closer look at their upcoming tax bill, as homeowners and small-business owners will need to see just how large a hit their family’s bottom lines will take.… Continue Reading