CHICAGO — Chicago Mayor Lori Lightfoot says the city’s property taxes will be increased if her agenda isn’t addressed during the Illinois General Assembly’s fall veto session.
Lightfoot told the Chicago Sun-Times that there are limited tools available to her to generate substantial revenue, with the property tax being chief among them.
Lightfoot has asked the Legislature to approve a graduated real estate transfer tax and a casino gambling fix, either through city-state ownership of a Chicago casino or a revised tax structure to boost city revenues.
In 2015, then Mayor Rahm Emanuel persuaded the City Council to approve a $588 million property tax increase for police and fire pensions and school construction. It was the largest property tax increase in Chicago history.
Lightfoot said they message she has received during town hall meetings about the city’s budget is a property tax increase isn’t wanted by city residents.