News

Quinn OK with Chicago Property Tax Hike

Quinn OK with Chicago Property Tax Hike

Photo: Newsradio WTAX

Gov. Pat Quinn won’t say if he opposes legislation that would mean a hike in Chicago property taxes to overhaul two city pension systems, but says he wants to reduce reliance on such taxes as a revenue source.

He says he wants to see the bill’s final version and is awaiting its consideration on the House floor.

On Wednesday, a House committee approved the plan by Mayor Rahm Emanuel. The proposal calls for hiking property taxes by $750 million over five years. City officials initially estimated it at $250 million.

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