[Rooters] Chicago Mayor Rahm Emanuel has disclosed that his record property tax hike plan entails significant cuts for nearly 300,000 homeowners, leaving Chicago businesses predicting they will face hikes of up to 50 percent.
The second-term mayor last week proposed a $544 million property tax increase, the city's biggest ever, to help fix one of the worst-funded city pension systems in America and vowed "struggling" homeowners, whose residences are worth $250,000 or less, would not see an increase.
But details from the mayor's office on Wednesday showed Emanuel's definition of "struggling" extends far beyond Chicago's famed bungalow belt to include nearly 290,000 homes. For the first time, the mayor's office is saying those homeowners actually would profit from his dramatic city-wide tax increase plan.
A new analysis Emanuel's administration circulated among city aldermen predicted that homeowners living in properties valued at $250,000 or less would experience "little or no increase" from the tax hike and that "most" would see their taxes drop.
The owner of such a home would see their tax bill drop by $140, or 3 percent, with the tax cut rising as home values drop. By contrast, the owner of a $500,000 home would see a $195 reduction, or 24 percent drop, in property taxes under the mayor's plan, his office's analysis showed.
Word that so many city homeowners stand to escape the reach of the mayor's property-tax hike and some will even get cuts has angered business groups.
[Breitbart] Breitbart News has learned that President Obama called U.S. Secretary of State John Kerry and U.S. Ambassador to the United Nations Samantha Power into a video conference before Israeli Prime Minister Benjamin Netanyahu's Speech to the United Nations General Assembly on Thursday.
"Ambassador Power and Secretary Kerry were unable to attend Israeli Prime Minister Netanyahu's speech before the General Assembly because they were called into a meeting with President Obama, which they participated in via video teleconference," a State Department Official told Breitbart News.
Although they were both in New York for the United Nations General Assembly meetings, the two high-ranking U.S. officials were notably absent for the entirety of the Israeli Prime Minister's speech.
"The United States was represented at the speech by Ambassador David Pressman, Alternate Representative of the United States to the United Nations for Special Political Affairs, Ambassador to Israel Daniel Shapiro, and Ambassador Richard Erdman, Alternate Representative to the UN General Assembly," the official added.
During his speech before the United Nations, the Israeli Prime Minister excoriated the international body for not condemning the Iranian regime when it calls for Israel's destruction.
#1
Our age creates strange super-heros
But few are as weird as Zero's:
"I care about problems --
By frowning I solve them!"
Sam simpers; the press is delirious.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
[Breitbart] Breitbart News has learned that President Obama called U.S. Secretary of State John Kerry and U.S. Ambassador to the United Nations Samantha Power into a video conference before Israeli Prime Minister Benjamin Netanyahu's Speech to the United Nations General Assembly on Thursday.
