Against that dire backdrop, the mayor is prepared this month to call for a $500 million property tax hike. On top of that, Emanuel plans to seek a host of new taxes and fees, including asking homeowners to start paying to have their garbage hauled away.
“I don’t think it’s ever been this bleak,” Ald. Patrick O’Connor, the mayor’s City Council floor leader, said of the city’s financial health since he took office in 1983. “I clearly think the mayor has some bad choices (to make).”
How deep is the money pit? If Emanuel and aldermen were to use property taxes just to cover what they plan to pay into city workers’ pension funds the next six years, they’d have to more than double the city property tax to come up with the more than $850 million a year it would take.
“There’s definitely some tough choices that have to be made and some work to do, and this year I think is going to be a real important year to determine whether we’re actually doing that or not,” said Ald. Joe Moore, 49th. “It’s a come-to-Jesus point.” read more…….
