city taxes – Actuarial News

COVID City Revenue Impact Map

February 22, 2021 Mary Pat Campbell

Link: https://civmetrics.com/covid-impact-map/

Graphic:

Excerpt:

Without breakdowns by fiscal year-end and other measures, there is no strong pattern of geographic distribution of cities and the impact of COVID on their finances
Future installments of CivMetrics COVID Impact research will include more detailed maps

Date Accessed: 22 February 2021

Publication Site: CivMetrics

CHICAGO HAD $41,100 IN DEBT PER TAXPAYER BEFORE COVID-19, SECOND TO NEW YORK

February 14, 2021 Mary Pat Campbell

Link: https://www.illinoispolicy.org/chicago-had-41100-in-debt-per-taxpayer-before-covid-19-second-to-new-york/

Graphic:

Excerpt:

A new report from government finance watchdog Truth in Accounting gave the Windy City an “F” for financial health. Chicago’s massive $36 billion net debt stems primarily from pensions.
Chicago city taxpayers were just hit with $94 million in property tax increases and $38 million in higher fines and fees, including a policy for speed cameras to ticket drivers for going just 6 mph over the speed limit, to help close the city’s budget deficit. City leaders placed much of the blame on COVID-19’s impact on government revenues, but a recent report from fiscal watchdog Truth in Accounting shows Chicago’s problems existed long before the pandemic.

Author(s): Justin Carlson

Publication Date: 11 February 2021

Publication Site: Illinois Policy Institute