UPTOWN — Ald. Harry Osterman (48th), one of 14 alderman to vote no on the new city budget containing a record $589 million property-tax increase, said his decision was based on the impact the hike would have on neighborhood residents and businesses.
After Mayor Rahm Emanuel delivered the 2016 budget to the City Council in late September that included a tax hike, Osterman hosted a series of Town Hall meetings to hear community feedback. That community feedback lead Osterman to vote against the budget and the hike, which is scheduled to hit Chicagoans next summer, he explained in a newsletter to his ward Thursday
"After going through a long budget process and listening to many residents in our community, I voted against the budget and property tax hike. This was a difficult decision, but I am very concerned about the impact the property tax increase will have on the people of our ward — whether longtime homeowners who have helped make the community what it is today, renters who value the diversity and quality of life here, or small-business owners who play such a vital role in our day-to-day lives," he said in the newsletter.
For the full list of alderman who voted against the budget click here.
Everyone will be affected by the budget changes and as cost of living climbs "it's becoming increasingly difficult for some people to stay in our great neighborhood," he said.
At one of the town hall meetings, Osterman explained he feared the new tax hike could detour more local business from opening in the ward.
"The budget begins to address our long-term pension obligations, but I believe we should have looked for more cuts and efficiencies in city government before we asked residents and business owners to dig deeper into their pockets," Osterman said. "Finding more efficiencies in city government would not have eliminated the property tax increase, but it would have lessened the burden on residents and business owners."
Chicago returned $113 million in TIF surplus funds "to various government taxing bodies" including $22 million to the city and $45 million to the CPS, he said.
"Given that hundreds of millions of dollars will remain in TIFs at the end of the year, I feel we should have returned more. This is an issue I will continue to pursue, as I am still very concerned about the financial condition of both the city and CPS," he said.
Osterman went in to greater detail about the vote on WTTW's Chicago Tonight.
For more neighborhood news, listen to DNAinfo Radio here:
