The Chicago City Council passed a large tax and fee increase today, in hopes of funding their $5.9 million budget starting January 1, 2008, according to the Chicago Tribune. Here's the SunTimes story.
What does this mean for Chicago residents?
1. The tax on beer, wine, and liquor will increase. About half of that drink you have at the bar is purely taxes. I think I'll have a tax and coke, please.
2. The city property tax increases by $86 million, total.
3. Bring your own bottled water into the city. That now has a tax of 5 cents a bottle.
4. Don't run red lights (or yellows) unless you can afford it. Those fines increase, and Dalye wants more cameras.
5. If you own an SUV, be prepared to pay more for a city sticker. $30 more a year, and more than a smaller car.
6. Watch where you park. Fines for illegal parking are increasing under King Richard II's new taxing budget.
This is on top of what the Cook County Board will add in taxes. This town needs a tax revolt like Michael Moore needs liposuction.
MAYOR DALEY’S $276.5 MILLION REVENUE PLAN BY THE NUMBERS
• $83.4 million property tax increase costing owner of a home sold for $250,000 roughly $60 more a year.
• $43.9 million increase in water rates.
• $20.8 million increase in sewer fees. Combined water and sewer increase costs the owner of the average single-family home $45 more each year.
• $10.5 million by imposing a new five-cent tax on each container of bottled water.
• $12 million liquor tax increase that’ll add seven cents to the cost of a six-pack of beer, two or six cents to a bottle of wine, depending on the liquor content, and 22 cents to a liter of hard liquor.
• $48 million by doubling — to $2.50 — the monthly surcharge on telephone bills.
• $24 million by raising the tax on lease transactions from 6 to 8 percent. It’ll add $4 to a $200 car rental fee and a dime to a $5 DVD rental.
• $8.7 million by raising 32 different parking fines. Individual increases range from 11 to 140 percent.
• $3.8 million by increasing the fine for being caught on camera running a red light from $90 to $100 and $5.7 million by installing red light cameras at 20 more intersections.
• $1 million by raising billboard fees and cracking down on illegal signs. Signs located on the premises of a business go from $75 to $200. Larger, off-premise billboards go from $75 to $500.
• $3.5 million by imposing a 25-cent development fee on every square foot of buildable floor area.
• $1.6 million by raising — from 1.50 to $2 — the cost of a strip of tickets to Taste of Chicago, Blues, Jazz and Celtic festivals.
• $6.2 million by raising the cost of a city sticker for SUV owners from $90 to $120.
• $3.9 million by raising the natural gas use tax from 5.2 cents to 6.3 cents per therm.
- Chicago SunTimes