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Property Taxes

Why Chicago's Loop Will Survive Property Tax Increases

David Scherer | Posted 03.01.2016 | Business
David Scherer

Last fall, the Chicago City Council passed a record $588 million property tax increase. Downtown properties will shoulder a substantial portion of that sum, so Chicagoans can thank Loop landlords when their tax bills come.

Top 25 Illinois Counties With The Highest Property Taxes

Reboot Illinois | Posted 02.25.2016 | Chicago
Reboot Illinois

Illinoisans pay a lot in property taxes compared to the rest of the nation -- the state has the second-highest property taxes in the country, almost d...

Tax Revolt Could Haunt Texans

Kevin Price | Posted 11.16.2015 | Business
Kevin Price

People love tax cuts. They see them on the ballot and they will gleefully vote for them, often without thinking twice about their consequences. Rece...

What to Do When Divorce or Widowhood Puts You in Financial Control for the First Time

Michael Most | Posted 09.23.2015 | Money
Michael Most

Taking an accounting of liabilities and expenses -- ie. what's owed -- is an essential first step to taking full financial control. In the case of divorce, which spouse will continue to pay for certain expenses is typically decided in the settlement.

Even Paying $500 Million Extra in Property Taxes Won't Save Chicago From Its Junk Credit Rating

Matthew Dietrich | Posted 09.10.2015 | Chicago
Matthew Dietrich

With $30 billion in unfunded pension liabilities and its municipal bonds rated as junk, a $500-million cash infusion is weak medicine for what ails Chicago, a panel of experts said at the City Club of Chicago panel discussion Tuesday.

Illinois' Geographic Rifts Grow Larger With School Spending Conflicts

Matthew Dietrich | Posted 08.18.2015 | Chicago
Matthew Dietrich

Forget Democrats vs. Republicans. A brewing fight over how state government funds Illinois schools districts draws geographic battle lines that pit Ch...

Rauner on Property Tax Freeze Bill: Illinois Should Not Be 'Dictatorship From Chicago'

Matthew Dietrich | Posted 08.06.2015 | Chicago
Matthew Dietrich

Gov. Bruce Rauner says a property tax freeze passed by the Illinois Senate this week is more evidence of Illinois being run as a "dictatorship from Chicago" by House Speaker Michael Madigan and his Democratic allies in the city.

How a Property Tax Freeze and Change to School Funding Could Break the Springfield Stalemate

Matthew Dietrich | Posted 08.04.2015 | Chicago
Matthew Dietrich

A few weeks back, three Democratic senators talked to reporters in Springfield about a concept that would both freeze property taxes in Illinois for a few years and sunset the state's school funding formula in a few years.

A Look at Michael Madigan's "Non-Budget"

Matthew Dietrich | Posted 06.23.2016 | Chicago
Matthew Dietrich

Reboot Illinois' Madeleine Doubek has little use for House Speaker Michael Madigan's oft-repeated accusation that Gov. Bruce Rauner is being unreasonable and "extreme" by trying to use "non-budget issues" as bargaining chips in deadlocked budget talks.

Homeowners Can Spend Over $9K A Year In Hidden Costs | Posted 06.22.2016 | HuffPost Home

Buying a home is so much more than finding the perfect place, applying for a home loan and budgeting for a monthly mortgage payment -- it's thousands of dollars more than many homeowners expect.

America's Rate of Homeownership Matters to You--Whether You Own a Home or Not

Garrick T. Davis | Posted 05.28.2016 | Business
Garrick T. Davis

Even the most casually informed reader has likely heard at least some of the troubling news and numbers tied to homeownership in America today.

3 Things to Remember About Illinois Property Taxes

Matthew Dietrich | Posted 05.20.2016 | Chicago
Matthew Dietrich

On May 17, Democrats in the Illinois House approved a property tax freeze bill that Republicans protested as a stunt. And the conservative Americans For Prosperity-Illinois has made tamping down property taxes a major cause this spring.

A Guide to Understanding Your Property Tax

David S. Bunton | Posted 06.08.2015 | HuffPost Home
David S. Bunton

Homeowners across the United States pay taxes on their property to support a variety of local public services. Although millions of Americans pay property taxes each year, many misunderstand how their bill is calculated.

The TIF Illumination Project at Two Years

Tom Tresser | Posted 05.27.2015 | Chicago
Tom Tresser

A Tax Increment Finance district is created by the City's Department of Planning and Development. It is a tool to capture property taxes from all properties inside the district.

Resetting Your Life for Retirement

Jason Alderman | Posted 03.17.2015 | Money
Jason Alderman

Here are some suggestions to help you figure out where you are on the pre-retirement spectrum and some changes you might consider.

Where Illinois School Districts Get Their Funding: Local, State and National Money

Reboot Illinois | Posted 02.10.2015 | Chicago
Reboot Illinois

When Illinois lawmakers get back to work in January, they'll have a lot of decisions to make on the state budget and minimum wage laws. They'll also be faced with the question of whether or not and how to restructure school funding in Illinois.

Homeownership Is Not For Everyone

Jack M. Guttentag | Posted 02.08.2015 | Money
Jack M. Guttentag

Some people are not cut out to be homeowners. I call them NOHOs. What distinguishes them is not their income, their mobility, or where they live -- rather, it is how they live.

Miami-Dade Annexation Push Rises Again

Luis Andre Gazitua | Posted 12.01.2014 | Miami
Luis Andre Gazitua

If annexation seems inevitable, your group needs to find common ground with your new city. For starters, try to negotiate the continuation of MD-PD as a first responder in the cargo-sensitive areas.

Parks, Property Values and Ping Pong

Laura Hogikyan | Posted 10.08.2014 | Detroit
Laura Hogikyan

Detroit is probably the only city with a beach, lounge chairs, a full-on beach bar, grassy amphitheater, painted pianos, basketball courts, a sand volleyball court, a ping pong table, a foosball table and food trucks all in the central downtown park.

Renting Out Your Vacation Home -- What Are The Tax Rules?

Carrie Schwab-Pomerantz, CFP | Posted 10.06.2014 | Money
Carrie Schwab-Pomerantz, CFP

A vacation home can provide you and your family with precious R & R, and it can also be a source of income in the right circumstances. But unfortunately the tax rules for renting out your home can be mind-numbingly complex, depending your intentions and circumstances.

A Property Tax Freeze in Illinois? At Least One State Rep. Thinks It's a Good Idea

Matthew Dietrich | Posted 09.23.2014 | Chicago
Matthew Dietrich

Illinois State Rep. David McSweeney (R-Barrington Hills) says he thinks property taxes should freeze all across Illinois in an op-ed in the Chicago Tr...

What Happened To "Rahmbo" Emanuel?

Ted Dabrowski | Posted 09.21.2014 | Chicago
Ted Dabrowski

If Rahm can't save Chicago, then he can forget about running the country.

Even Businesses Want To End This Tax Loophole

The Huffington Post | Lydia O'Connor | Posted 05.14.2014 | Politics

It's a most improbable union -- but California progressives and the state's business community have come together in support of closing a commercial p...

Springfield's Gift to Chicago: Step One of Pension Reform, or an Election Year Headache?

Matthew Dietrich | Posted 06.09.2014 | Chicago
Matthew Dietrich

Mayor Rahm Emanuel's pension bill finally got passed through the General Assembly after some property tax language was stripped from the bill.

Illinois Property Taxes by County

Reboot Illinois | Posted 06.04.2014 | Chicago
Reboot Illinois

If you've ever wondered what other Illinois counties pay in property taxes, then this is just the list you've been looking for! Here's a list of Illinois property taxes by county. Are you surprised by the results?