Taxing districts underestimate impact to homeowners

March 23, 2011

Produced by Eight Forty-Eight

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(Flickr/anthonylibrarian)
The tax referendum includes Indian Trails Public Library in Wheeling, Illinois.

In Chicago’s run off election on April 5 some ten Cook County communities will ask voters to weigh in on a proposed tax increase. The ballot referendum includes an estimate of the impact the hike would have on homeowner’s tax bill.

But some say the figures are a gross under-estimate. Why the discrepancy? And why would local governments want to raise taxes in this economy? For the answer, Eight Forty-Eight turned to Chicago magazine real estate reporter Dennis Rodkin.

Music Button: Dave Specter, "Soul Serenade", from the CD Spectified, (Fret12 Productions)