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Tag: Federal Reserve Bank of Chicago

Tone-Deaf Proposal: Increase Illinois Property Taxes To Pay Pension Debt

Economists from the Federal Reserve Bank of Chicago suggested an annual 1 percent statewide property tax, on top of the property tax bills owners already pay. Under their plan, you’d be forced to pay thousands of dollars in additional property taxes to try and fill the state’s $130 billion pension shortfall over the next 30 years.

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