Category: Property Taxes
Illinois Updates State Delinquency Legislation
Illinois lawmakers have passed a new bill that could significantly change how delinquent property taxes are handled. The Illinois House and Senate approved House Bill 4537, updating the rules for selling property tax debt. The bill is now waiting for the governor’s signature. Before this bill, Illinois counties sold property debt to investors who could
Chicago’s Immense Pension Debt
Chicago’s pensions remain among the worst-funded local retirement systems in the nation. The four city-sponsored pension systems – municipal employees, laborers, police officers, and firefighters – along with the Chicago Teachers’ Pension Fund, hold more debt than 44 states combined. According to data provided by the Equable Institute, these funds have a combined pension debt