Mayor Daley pleaded with Gov. Quinn on Wednesday to veto a bill that, the mayor warned, would choke Chicago homeowners and businesses with a $550 million property tax increase in 2015 to solve the city’s pension crisis.
“They say the taxpayers of Chicago will pay for 100 percent of all pensions and, if you don’t pay for it, we’re gonna take it out of your state income tax [share]. …. What are you gonna do for the Board of Education? We can’t go tax crazy,” Daley said.
“This is the highest real estate tax increase in the history of Chicago and that’s only for fire and police. If you put the other unions in there, it’s about $1.2 billion in one year….This will really hit the people. How are you gonna sell your home even if you’re retired? Who would want to buy your home? Buyer beware.”