Chicago's budget skyrocketed by $5.7 billion since 2019 and now totals $16.4 billion in 2023, 53 percent higher than four years ago.
Wirepoints also noted that Illinois suffered the nation’sBut according to Wirepoints, Johnson is seeking yet another hike with his $16.377 billion budget — a $5.7 billion increase over former Chicago Mayor Lori Lightfoot’s 2019 budget, which came in at $10.67 billion. Lightfoot’s budget was an increase over former Chicago Mayor Rahm Emanuel’s $9.23 billion budget in 2015.
Even as the city’s budget has soared 53 percent over the last four years, its private sector income growth has risen only an anemic 11.2 percent, Wirepoints added.,” a scheme to hike taxes progressively on property valued at $1 million and above. The plan would create a three-tiered property tax scheme, putting homes worth up to $1 million at a .6 percent rate, properties worth between $1 million and $1.5 million at two percent, and homes worth more than $1.
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