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The Chicago City Council finally passed Mayor Brandon Johnson’s 2025 budget on Monday with a 27-23 vote. ... Johnson proposed a $300 million property tax increase to help fill the budget deficit ...
Chicago taxpayers are looking at a billion-dollar deficit after elected officials raised the budget from $16.6 billion this year to $17.1 billion for 2025. ... Although the Chicago City Council ...
CHICAGO — Mayor Brandon Johnson eked out a victory Monday with the narrow passage of a $17.3 billion municipal budget plan that does not raise property taxes. The 27-23 vote came just weeks ...
However, the city of Chicago has a long history of budget deficits. In 2023, the city projected a $538 million dollar deficit, nearly half of the projected shortfall for 2025.
That adds $11.65 million to the budget deficit, the report says. ... According to the report, the City of Chicago currently has more than 100 speed cameras, which issue tickets to cars driving 6 ...
During the 2008 financial crisis, the City of Chicago faced a major budget deficit, which prompted then-Mayor Richard M. Daley to propose the sale of city-owned parking meters. Brokers affiliated with Morgan Stanley then formed an LLC called "Chicago Parking Meters LLC" to facilitate a potential deal with the city over the sale of the meters. [4]
The City Council is the legislative branch and is made up of 50 alderpersons, one elected from each ward in the city. [1] The council takes official action through the passage of ordinances and resolutions and approves the city budget. [2] Government priorities and activities are established in a budget ordinance usually adopted each November.
[160] [161] In 2008, as Chicago struggled to close a growing budget deficit, the city agreed to a 75-year, $1.16 billion [x] deal to lease its parking meter system to an operating company created by Morgan Stanley. Daley said the "agreement is very good news for the taxpayers of Chicago because it will provide more than $1 billion in net ...