Emanuel on Tuesday to seek $600M property tax hike, more fees to fix city

By Hal Dardick- Chicago Tribune

The city property tax hike would be phased in. It would increase by $318 million next year and another $109 million in 2017. The 2018 tab would go up by another $53 million, and the 2019 bill by $63 million. The total increase is $543 million — which Emanuel aides said would add about $543 to the tax bill on a home with a market value of $250,000. The overall tax bill on that home is now about $4,162.

In his budget address, Emanuel also will ask the council to authorize an additional $45 million property tax increase for CPS that would add another $45 or so next year to the property tax bill of that $250,000 home. The money would go to construction projects to alleviate what the Emanuel administration said was classroom overcrowding. The Chicago Board of Education already has enacted a tax increase that would add another $19 to that property tax bill.

Meanwhile, owners of single-family homes, duplexes and four-flats would be charged for city garbage-hauling service for the first time at $9.50 per dwelling unit. Lower-income senior citizens would pay half that amount. The fee would be tacked on to water bills. It would bring in about $62.7 million a year.  read more……