Earlier this month, the Illinois Department of Revenue showed in inflation increase was 8/10 of 1% for 2015. That indicated that non-Home Rule tax districts (schools being the most expensive) could not increase their tax take by more than 8/10 … Continue reading
The Illinois Revenue Department has released the Consumer Price Index number for 2015. It will determine how much budgets of non-Home Rule units like schools can increase their budgets next year. The rate of inflation last year was 8/10 of … Continue reading
One more month to go in 2015 and it doesn’t look as if the cost of living will have gone up even one percent. Tax districts, such as schools, are limited to taking no more total dollars than the percentage … Continue reading
January 1st and July 1st are the two days on which those in Illinois state pension funds get their 3% “cost of living” hikes. Mine comes on July 1st. Don’t know why. Most in the various retirement systems get their … Continue reading
The Northwest Herald reported Friday that Cary Elementary School District 26’s Board decided to take from the property taxpayers next year every dime allowed by the Property Tax Cap. That’s an increase of 1.5% over what was extracted this year. … Continue reading
Yesterday, the Chicago Sun-Times ran an article estimating that the increase in the Consumer Price Index may be a mere 1.5% this year. That’s good for consumers, but the paper notes that it will mean that Social Security recipients will … Continue reading
I’m not even going to read the Northwest Herald article before posting this. It’s front page headline tells much too much: County eyes bonding power Stimulus act empowers governments to issue federal economic recovery bonds This is so wrong on … Continue reading
So, what’s that mean? I wrote a rather expansive article about what it means to schools and local governments on Friday. You might be interested to read some of the implications in New Paradigm for Illinois Tax Districts … Continue reading
So, what’s that mean? I wrote a rather expansive article about what it means to schools and local governments on Friday. You might be interested to read some of the implications in New Paradigm for Illinois Tax Districts … Continue reading
