Photo: Julie Sullivan, Illinois REALTORS®
A budget deal that could come up for a vote today is said to include provisions which would allow Chicago to boost property taxes to fund the Chicago Public Schools.
Lawmakers were battling at the last minute Wednesday to meet a July 1 deadline when the state will begin operating without any budget. A lack of budget could force schools statewide to fail to open on time. The legislation which is still to be finalized, could allow Chicago the leeway to raise property taxes to help pay CPS’ pension obligations.
Of course, property tax bills just came out, and those bills reflected an average 13 percent increase for Chicago residents.
