property taxes

Mayor Rahm Emanuel’s proposal to increase property taxes by $600 million could cost aldermen political capital.

Chicago aldermen were asked to decide if their constituents can handle living in a more expensive city.

Emanuel says the city owes so much to its retiring police and firefighters that he has to raise property taxes. He says a vote for his budget will put aldermen in the history books for pulling Chicago from the financial brink

state of Illinois

Politicians say one of the most common complaints they hear is about high property taxes.

A measure that would put a hold on them is inching forward in the Illinois House, but whether the measure ever will become law is uncertain.

Freezing property taxes was one of the promises Gov. Bruce Rauner made on the campaign trail.

But it wasn't his plan that got called for a vote, leading Rauner's fellow Republicans once again to accuse Democrats of pulling a political stunt intended to embarrass the governor.

Jenna Dooley

Election season is also the time for county treasurers to try to recoup unpaid property taxes. When property taxes go unpaid, Illinois counties rely on outside buyers to pick up the tab.

The Rockford School Board voted unanimously Tuesday night — without discussion or debate — to lower the property tax rate by 58 cents for next year’s tax bills.

The owner of a $100,000 house could see a 10 percent reduction in his or her property tax bill, at a cost of roughly $9.3 million to the Rockford School District in fiscal 2013.

DeKalb County treasurer predicts additional rate increases and lower assessments for the next couple of taxing cycles.