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re: Chicago Faces $1.2 Billion Budget Shortfall Following Catastrophic Economic Collapse

Posted on 9/2/20 at 2:49 pm to
Posted by the808bass
The Lou
Member since Oct 2012
111668 posts
Posted on 9/2/20 at 2:49 pm to
quote:

So, we're 20% of the shortfall through those 2.


Just need another $800M. That’s just 7% of the city budget.

Maybe they can raise taxes again.
For the trillionth time.
State income tax is only 4.95%.
And property tax only runs about $8500 on a $500k home.

It’s a fricking paradise.
Posted by CHiPs25
ATL
Member since Apr 2014
2908 posts
Posted on 9/2/20 at 3:30 pm to
I used to live in Chicago for about 15 years and I know all too well. Luckily I didn't own a home, only rented, but renters are feeling it as well. Landlords pass down the property tax increase. My rent went up 17% in one year.
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