$500 million property tax hike ‘not enough’ to shed Chicago’s junk bond rating, analysts warn

A $500 million property tax increase will not be enough to solve Chicago’s $30 billion pension crisis or rid the city of the junk bond rating that has saddled the taxpayers with tens of millions in penalties and borrowing costs, analysts concluded Tuesday. Civic Federation President Laurence Msall and Matt Fabian, a partner at Municipal […]