Chicago has the 2nd-highest property taxes on businesses in the U.S. 🥈
It’s more than double the national average for big cities. 😳
Only Detroit’s business tax burden is higher.
Why? 🧐
Detroit has a high effective commercial property tax rate on $1 million-plus commercial properties because of low property values.
The city went bankrupt in 2013. 😬
Chicago’s high rate is because of high local government spending and because the tax system shifts a higher burden to businesses.
Chicago’s commercial property taxes have soared by 93% in the past 10 years. 🚀
They now average nearly $150,000 annually.
A large share of Chicago’s commercial property taxes are simply passed on to tenants in the form of higher rents.
That’s concerning because downtown Chicago commercial properties are facing all-time high vacancy rates.
Higher property taxes ➡️ higher rents ➡️ fewer tenants leasing in the city.
Commercial property owners who absorb the tax costs will see a reduced return on investment, slowing economic growth in the city.
Mayor Brandon Johnson’s solution?
More taxes. 💸
A city struggling with affordability should be looking at ways to reduce burdens on residents, businesses and job creators rather than seeking new ways to tax them.
#chicago #taxes #smallbusiness #economy #politics
This Crisis Is CRUSHING Illinois Taxpayers
Illinois’ statewide public pensions are in the worst shape in the nation – by multiple measures.
Yet political leaders either don’t get it or fail to admit it.
Illinois’ biggest financial problem is its pension debt.
Illinois Policy Institute Director of Fiscal and Economic Research Bryce Hill joined FOX 55/27 Illinois to discuss the magnitude of Illinois' crisis – and which states are getting it right.
CNN host SCHOOLS Chicago Teachers Union president
👀 Uh oh.
Chicago Teachers Union President Stacy Davis Gates fumbled a CNN interview.
Notice her self-contradictory logic:
1️⃣confirms she opposes school choice for families
2️⃣but laments "no choice" for families
3️⃣then defends school choice for herself
"Equity," right? 😉
Is the Chicago Teachers Union's president a hypocrite? 🧐
Chicago Teachers Union President Stacy Davis Gates vehemently opposes school choice.
But she reportedly now sends one of her three children to a private high school in Chicago.
She and the CTU have been actively working to kill Illinois’ only school choice program, the Invest in Kids tax credit scholarship program.
You read that right:
Davis Gates apparently chooses an alternative to failing Chicago Public Schools for her child – while actively working to kill that choice for low-income families.
It gets worse: She also once claimed, “School choice was actually the choice of racists. It was created to avoid integrating schools with Black children.”
If the CTU leader who wants to kill school choice has chosen a private school for her own child, how convincing are her arguments against school choice for poor kids?
State lawmakers have a chance this fall to save the program that allows low-income students to attend a private school that better fits their needs.
Illinois Policy Institute Vice President of Marketing Austin Berg joined WGN TV to discuss Davis Gates' hypocrisy.
Pritzker's 'tax break' gimmick expires: IPI on FOX local
In 2022, Illinois provided a sales tax break for back-to-school shoppers.
It saved them $50 million.
In 2023, that tax break vanished.
Even with a larger state budget, families will pay more on school necessities.
Governor JB Pritzker claims the tax break was “always designed to be a one-time measure.”
Read: election-year gimmick.
Our team appeared on FOX 55/27 Illinois to explain.
Is Illinois the 'Big Government' Capitol of America? (Full Debate)
Illinois is swaddled more layers of government than any other state in the U.S.
Shouldering that volume of bureaucracy is costly – and it contributes to homeowners' sky-high property taxes.
But state leaders don't make it easy for taxpayers to have a voice on how much government they're willing to pay for.
Should voters have more power to rein in their government at the ballot box?
Illinois Policy Institute Vice President of Marketing Austin Berg joined WTTW - Chicago PBS to make the case for voter control over the size and scope of local government in Illinois.
Larry Roberts is a Chicago barber who helps former inmates reclaim their lives and dignity through jobs training.
Our team first spoke to him in 2021.
His school ran a barber shop inside the Chatham neighborhood Walmart until this spring, when the company closed that location and three others.
Larry is calling on local political leaders to prioritize programs that create new jobs.
South Side Job Creators Fight Crime, Violence, and Poverty in Chicago
Larry Roberts is a Chicago barber who helps former inmates reclaim their lives and dignity through jobs training.
Our team first spoke to him in 2021.
His school ran a barber shop inside the Chatham neighborhood Walmart until this spring, when the company closed that location and three others.
Larry is calling on local political leaders to prioritize programs that create new jobs.
Chicago Parents' Fight for School Choice is Gaining Momentum
Devin Jones is a Navy veteran, small business owner, former Catholic school teacher and lifelong resident of Chicago’s South Side.
He saw his mother struggle to make ends meet.
As an adult, he took in two of his students who were homeless.
He’s seen the challenges facing the South Side firsthand.
Solving them starts with individuals, he says.
Test Scores Are Tanking (but Graduation Rates Are Rising) in Chicago
Illinois public schools graduated a higher percentage of students during the pandemic.
But state data shows those students’ test scores have been dropping.
Worse: Fewer of them are advancing to college.
NBC Chicago cited our team's research. ⬇️⬇️
Governor JB Pritzker came out against self-funded political campaigns – after self-funding two political campaigns.
#illinois #chicago #politics #corruption #governmentcorruption #pritzker #gaslighting
👩⚕️ Illinois politicians are ignoring the ONE obvious solution to the state's nursing shortage.
#Illinois #chicago #nursingschool #nursing #nurselife #politics #news
🚨The top 3 reasons Illinoisans leave the state
#Illinois #illinoisrealestate #crime #politics #economy #smallbiz #Census #population #demographics
🚨PROOF: Chicago politicians are trying to cover up the city's crime crisis
#chicago #crime #chicagopd #shoplifting #economy #politics #walmart
Chicago Bears fans are getting ripped off – badly. 💸
#chicago #NFL #politics #taxes #debt #chicagobears
Higher pension costs ➡️ higher tuition
#illinois #highereducation #college #university #debt #studentdebt #studentlife #taxes
Walmart Just Closed Half of Its Chicago Stores
Chicago's mayoral-elect Brandon Johnson will take office amid rising crime, a sky-high tax burden, and a deteriorating business climate.
In 2022, three major companies – The Boeing Company, Tyson Foods, and Citadel – moved their corporate headquarters' out of Chicago.
Johnson, whose candidacy was heavily financed by the politically militant Chicago Teachers Union, will be forced to make tough decisions as mayor.
Will he roll back his radically progressive agenda to accommodate the economic realities facing the city – or will he double-down at the insistence of his CTU backers, and risk plunging Chicago further into chaos?
The Illinois Policy Institute's director of economic and fiscal research, Bryce Hill, joined Fox Business's Varney & Co. to explain what Chicagoans – and the rest of the nation – could expect.
😳 91 of Illinois' 102 counties are shirnking. Cook County's outmigration crisis is 2nd-worst in the U.S.
#Illinois #CookCounty #politics #population #Census #demographics #taxes #crime
The casino industry for decades has been a significant contributor to the Illinois economy, but from 2012 to 2022 its seen a $200 million decline, according to data from the Illinois Gaming Board (https://cgfa.ilga.gov/Upload/2022_Wagering_in_IL.pdf).
One of the reasons for the decline is the emergence of other forms of gaming which weren’t available to Illinoisans in 2012. Video gaming terminals, for example, have nearly doubled from $395 million in revenue during 2019 to $762 million in 2022.
They allow players to place bets on video poker and slot machines in local bars and restaurants, providing a more accessible and convenient experience than casinos.
Sports betting has quickly gained popularity, slightly edging out casino revenue $142 million to $140 million in 2022.
Chicago recently chose Bally’s to open a new casino in the River West neighborhood. A temporary casino at Medinah Temple is in review for approval to open this summer.
The new Bally’s casino could bring in as much as $200 million for the city and the money has been earmarked for first responders’ pensions. But the casino taxes are a pittance compared to the city’s $48 billion in unfunded pension debt.
Mayor-elect Brandon Johnson also said video gaming revenue is part of his plan for the city, but Chicago would need to legalize video gambling machines to do that.
A statement from Johnson’s spokesperson says he “is a supporter of legalized video gambling as an important revenue source for critical investments in public safety, transportation, housing and other public accommodations.”
Overall, state gaming revenue was up to nearly $1.9 billion in fiscal year 202
2, the highest ever and almost 39% higher than in 2021.
#chicago #politics #debt #taxes #casino #gaming #gambling
Chicago Teachers Union Now Runs City Hall (Is Your City Next?)
The country’s most powerful teachers’ union has the keys to the Chicago mayor’s office.
Now what?
Our senior director of labor policy joined Varney & Co. on Fox Business to discuss what this means for students, families, and taxpayers in Chicago.
#chicago #politics #education
This is how high taxes push small businesses out of Illinois.
#Chicago #Illinois #smallbiz #economy #politics #propertytax #entrepreneur
Higher pension debt ➡️ higher property taxes ➡️ higher rent
#chicago #politics #economy #investing #housingmarket #election2023
The internal revolt against the Chicago Teachers Union is just getting started.
#chicago #politics #education #election2023 #schoolchoice
💰 Chicago teachers are being robbed blind to support Brandon Johnson.
#chicago #politics #election2023 #education #schoolchoice
government unions 🤝 Brandon Johnson
#chicago #politics #education #election2023 #schoolchoice
🤔 How can Brandon Johnson manage Chicago's debts if he can't manage his own?
#chicago #politics #election2023 #debt #budget #finances
Chicago mayoral candidate Brandon Johnson has a persistent problem answering questions about his own political positions honestly. This is especially true on the subject of his history praising the “defund the police” movement.
#chicago #election2023 #politics #crime #police #publicsafety
Brandon Johnson is misleading the public about his "teaching career."
#chicago #politics #2023election #taxes