George Cardenas: Chicago must create a relief mechanism for property taxpayers

Contributing sentiments towards policy:

62% : Imagine a city where public schools prepare every child for success, city services operate seamlessly and economic opportunities are accessible to all.
52% : In a recent article, the Tribune raises important questions regarding the proposed $1.25 billion bond issuance that relies on expiring tax increment financing districts.
51% : Such an increase would likely necessitate substantial property tax hikes to fund these commitments.
50% : While supporters of the proposal argue that the freed-up funds will cover the debt, this strategy effectively locks in a significant revenue source and gambles that property tax resources, specifically the overall taxable value of the city, will not decline.
49% : Finally, not only do local governments need to manage and control their property tax levies, but also, relief for an already-overburdensome property tax system must happen quickly.
39% : The changes in the downtown economy are translating into how downtown is valued for tax purposes.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.