Is It Time To Pay The Piper ?
According to The Sun Times, Curbed ( and just about every news outlet ), Mayor Rahm Emanuel is asking for more new taxes to balance the budget shortfall. Well, it takes a lot of money to become one of the greenest and most friendly tourist cities … And now the bill has come due ( think decades of over spending and borrowing ) …. No more kicking the can down the road
What : $ 500M Property Tax Hike
Result : $ 500 / $ 250,000 Home Value
What : Monthly Assessment :
$ 11 / Household
Result : Back Door Property Tax
What : UBER Tax
Result : Extra $ 1 Tax / Ride
Applies To Any Ride Hailing App
Save Some $ If You Haven’t Already
Why ? To fund pensions, schools, and balance budget shortfall.
Raising property taxes ultimately de-values homeownership, meaning the big picture : fewer home buyers, resulting in less revenue, stifling further real estate growth after it has rebounded. Also, lowering property taxes can and has been done successfully in the past. Email Us with your complete contact information ( address / email / cel ) and we will connect you to attorneys that have succeeded both collectively ( as a condominium or neighnorhood association ) or singlely.
Our opinion on the Uber-tax ? Chicago has seen the #1 highest level of business relocation and is known to be a technology hub. Why on earth would we want to inhibit job and technology growth?
What you can do ? As these new measures have yet to be approved, write your legislators. Let’s find a ” happy medium ” to solve our budget issues, while continuing to grow.