Civic Federation weighs in on 7% solution
New analysis from the civic watchdog group is in favor of extending the property tax exemption through tax years 2006-2008 at its current maximum level of $20,000. The Federation cautions, however, that it's no substitute for comprehensive property tax reform as David Roeder reports in today's Sun-Times business section,
but we ask, "What about the renters?" The Right Place hears that the squeeze on renters is getting tighter from 1) condo conversions of apartment units contributing to a heightened scarcity of affordable apartments; 2) Property-tax pass throughs from property owners to tenants. The latter could have a harsh impact in the neighborhoods on rentals of affordable housing as well as on rentals of smaller commercial spaces in the neighborhoods.
View The Civic Federation report.
