Chicago mayoral candidate Bill Daley unveils a proposal to freeze homeowners’ property taxes in a television ad his campaign is set to start airing Thursday. […]
After the spot shows Daley talking to various people of different ages and ethnicities, the narrator gets to the big promise: “Bill will put a moratorium on tax hikes to keep families in their homes.” The words “PROPERTY TAX FREEZE” appear on the screen in large letters next to images of Daley speaking to a Hispanic woman in a store and a white man with a young child. […]
He previously had stressed the need to get away from raising the taxes on homeowners, but had not proposed an outright freeze. In a speech to the City Club of Chicago last week, he vowed that any property tax increases would be met with “dollar-for-dollar” cuts to city government. […]
While Daley is calling for a moratorium on property tax hikes, he previously has advocated for City Hall to consider a wide range of new taxes and fees to deal with the city’s ongoing pension crisis, which will require the next mayor to come up with nearly $1 billion in new annual retirement fund payments by 2023. In his City Club speech, Daley opened the door to a commuter tax on suburbanites who work in the city to help fill the pension gap while also saying an increase in real estate transfer fees and taxes on legalized marijuana and a long-sought Chicago casino “must be on the table.”
Refusing to raise property taxes while waiting on Springfield to give the city a casino or whatever pie in the sky idea Richard M. Daley had at the moment is what got the city in trouble in the first place because it didn’t adequately fund its pension systems (or even pay a dime into some of them).
And now Bill Daley thinks that the General Assembly is gonna pass a commuter tax? Does he not know that a record number of suburban Democrats were elected to the legislature last month and that they will be highly resistant to a possibly unconstitutional tax on their own constituents to benefit Chicago, on top of any graduated income tax plan? Or is he just being a Daley?
Daley said that should include considering an amendment to the state’s constitution, deleting a provision that says current public employees cannot have their pension benefits “diminished or impaired.” […]
Many legal scholars question whether changing the constitution would allow the city to reduce the retirement benefits of current city employees, and changes already have been made to lower benefits for new city employees. As a result, it’s unclear what changes a future mayor could make with state lawmakers to save additional money, and Daley did not outline any specifics.
