Mayor Lightfoot’s Pandemic Budget Includes 94-Million-Dollar Property Tax Hike

There is some bad news for Chicago homeowners and business owners.  Mayor Lightfoot announced today that her 2021 planned budget will include a 94-million-dollar property tax hike.  Homeowners also will have to pay an annual property tax increase moving forward tied to the rate of inflation.  Lightfoot’s 12-point-eight-billion-dollar spending plan also includes a 60 percent increase in Chicago’s nickel-a-gallon tax on gasoline to eight cents-a-gallon.  Lightfoot also proposes to layoff 350 non-union city workers.  Workers will also be required to use five unpaid furlough days.  The city faces a one-point-two-billion-dollar budget shortfall.