Emanuel to seek $500 million property tax hike

WRITTEN BY FRAN SPIELMAN – CHICAGO SUN-TIMES

Mayor Rahm Emanuel is poised to raise property taxes by $500 million for police and fire pensions and school construction and impose a garbage-collection fee to generate $100 million more, City Hall sources said Wednesday.

The $500 million property tax increase will cost the owner of a home valued at $250,000 roughly $500 more each year. The garbage fee — widely viewed as a back-door property-tax hike — will be a monthly assessment of roughly $11 to $12 per household.  read more…….