Taxation
Update on Pedway Redesign Discussion
Update on Pedway Redesign Discussion January 17, 2017 The Environmental Law and Policy Center (ELPC) recently held a series of workshops to discuss possible improvements to the Chicago Pedway system. It is funding a $125,000 redesign of the main Pedway stretch beneath Randolph Street with the primary focus on the section that runs from…
Read MoreA Closer Look at the Property Tax Burden on BOMA/Chicago Buildings
A Closer Look at the Property Tax Burden on BOMA/Chicago Buildings At BOMA/Chicago, we’re always advocating on our members’ behalf by regularly engaging in open, productive dialogue with key stakeholders surrounding public policy and fiscal decisions aimed at fostering a thriving Chicago. While our elected officials at the local, state and federal levels initially come to…
Read MoreCity funds Property Tax Rebate Program
City funds Property Tax Rebate Program August 25, 2016 With Springfield failing to act on the Mayor’s proposed doubling of the homeowners exemption, the Chicago City Council approved a City-funded rebate program to help offset the recent $580 million property tax increase. It includes a base rebate for certain homeowners, a senior supplement for…
Read MoreIllinois General Assembly Approves New “Transit TIF”
Illinois General Assembly Approves New “Transit TIF” July 18, 2016 Legislation introduced and approved by the Illinois General Assembly on June 30, 2016 would allow for a new type of TIF district (called a “transit TIF”) to provide a new financial tool intended to help the City of Chicago and the CTA with funding…
Read MoreCPS Legislation Provides Pension Payment, Levy Increase
CPS Legislation Provides Pension Payment, Levy Increase June 30, 2016 The other shoe appears ready to drop on the unresolved CPS pension issue. A House amendment to Senate Bill 318 allows the City of Chicago to impose a new property tax levy for Chicago Public Schools (CPS) pensions. The record $580 million property tax levy…
Read MoreChicago City Council Mandates Paid Sick Leave
Chicago City Council Mandates Paid Sick Leave June 30, 2016 After more than a year of discussions, the Chicago City Council unanimously passed an ordinance in June that allows employees to accrue and use up to five earned sick days over the course of one year. Chicago now joins many other cities with similar…
Read MoreBOMA/Chicago’s State of the City Aldermanic Discussion and Luncheon
BOMA/Chicago’s State of the City Aldermanic Discussion and Luncheon BOMA/Chicago was pleased to host some of Chicago’s most esteemed aldermen earlier this month for our annual mid-year luncheon, held at Prime & Provisions in River North. Our City and County Legislative Consultant, Mary Kay Minaghan, moderated the engaging panel discussion focused on the “state of…
Read MoreBOMA/Chicago Raises Voice on Mayor’s Property Tax Increase Proposal
BOMA/Chicago Raises Voice on Mayor’s Property Tax Increase Proposal March 15, 2016 Call to Action: Contact your State Legislators Today! On Monday, October 19, the City filed legislation to double the Homestead Exemption and shift nearly 70% of the burden for the proposed property tax increase to businesses and renters. The legislation has already passed…
Read MoreOpen Letter regarding Property Tax Increases to BOMA/Chicago Members from Michael Cornicelli
Open Letter regarding Property Tax Increases to BOMA/Chicago Members from Michael Cornicelli Dear BOMA/Chicago Member: I’m sure that you have seen and heard the press coverage of Mayor Emanuel’s proposed 2016 budget and real estate property tax increase totaling over $543 million for 2015-2018, including his push to shift much of that burden to commercial…
Read MoreSpecial Service Areas Subject of Illinois House Hearing
Special Service Areas Subject of Illinois House Hearing July 13, 2015 BOMA/Chicago’s Director of Government Affairs, Ron Tabaczynski, recently appeared before the Illinois General Assembly’s House Revenue Committee to testify at a subject matter hearing on Special Service Areas (SSAs). Ron spoke about some major concerns BOMA/Chicago members have with SSAs, including: Scope of Service…
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