Illinoisans’ property taxes are going up while salaries are stagnant at best
Austin Berg News
Flawed property valuations and the process required to fix them are a cash cow for law firms, including those of House Speaker Mike Madigan, Chicago Alderman Ed Burke and Illinois Senate President John Cullerton.
Illinois’ general-obligation bonds are rated just three notches above junk status, thanks to a credit-rating downgrade on Oct. 19 from Fitch Ratings.
Illinois collects more in taxes per person than every neighboring state, according to new research from the nonpartisan Tax Foundation.
The Illinois Supreme Court ruled in May that pension benefits flowing to government retirees can never be “diminished or impaired.” A new investigation into state and local pension records reveals this ironclad protection can extend beyond the grave. From 2010 to 2014, 11 of Illinois’ 15 largest pension funds paid out $2.2 million in pension benefits to more than 1,000 dead people.
Story CopyIllinois employers announced mass layoffs affecting 2,112 workers in August, according to a monthly report from the state’s Department of Commerce and Economic Opportunity, or DCEO.
Most Americans think of tax day as April 15. But the tax day that really matters is Tax Freedom Day: April 24. This is the day in 2015 when U.S. workers will have collectively earned enough to foot the nation’s tax bills. Illinoisans, however, will still be working for government nearly a week later.