Tuesday, August 30, 2005

New tax zone is a bad idea

The City of Chicago is trying to slap downtown property owners with a Special Service Area tax. Why are the owners of three full Chicago zip codes and parts of three others so special . . . because they live near Millenium Park and someone has to pay the higher than expected operating costs.

Higher than expected operating costs? You better believe it. Tax payers had to foot the bill for more than $220 million worth of budget overages (on a proposed budget of $150 million). Now, if you live near M Park, you'll also be asked to pay $7.8 million per year to help keep it up.

Why does it feel like all of last weekend's Bean gawkers hadn't just walked over from their Lake Street condo, but may have come in from Naperville or Hammond?


Anonymous cal skinner said...

No one latching onto the loss of future tax revenue for schools?

9:57 AM  

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