CITY HALL — Mayor Rahm Emanuel is eyeing a $500 million property tax hike for Chicago homeowners, a huge tax hike that would cost the owner of a $250,000 home another $500 a year, according to multiple reports.
Citing City Hall sources, the Tribune and the Sun-Times reported Emanuel would ask for a $500 million increase in property taxes as part of his 2016 budget proposal to be delivered to the City Council on Sept. 22. It's needed to make overdue pension payments for police officers and firefighters.
Ted Cox discusses a potential property tax hike and more:
It would add an estimated $500 a year to the property taxes on a $250,000 home.
The mayor is also considering a $12-a-month fee for garbage pickup, to the tune of about $100 million, as well as per-ride charges for both taxis and ride-sharing services.
Also under consideration are additional fees on e-cigarettes and smokeless tobacco, as well as a penny-an-ounce tax on soft drinks containing sugar.
The mayor holds the last of three citywide budget forums at Wright City College at 6:30 p.m. Thursday. Monday and Wednesday's forums were disrupted by Dyett High School protesters, but Northwest Siders figure to weigh in on costs to their households as well.
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