Right now there are ten cities in Illinois where all of the property tax payments made by residents are used exclusively by the local city government to pay pensions and municipal bonds, the two biggest types of debt created by local and state government.
Top 25 legislators receiving the biggest Illinois pensions
Which retired state lawmakers have the biggest Illinois pensions?
Taxpayers United of America, an organization that advocates for tax relief and “fighting government pensions,” has released an updated list of lawmaker pensions in the General Assembly Retirement System.
At the end of fiscal year 2015, the pension fund had a funded ratio of 16.4 percent — the lowest of the state’s five retirement systems — and $278.8 million in unfunded liabilities. Here are some more fast facts from the 2015 comprehensive annual financial report:
By KEVIN P. CRAVER – Northwest Herald
EDITOR’S NOTE: This is part one of our series Property Taxes: Follow the Money. For Illinoisans, property taxes are a sore spot. Illinois has the second highest property taxes in the nation, and McHenry County is in the top 10 for highest property taxes in the state. Illinois also ranks first in the country with nearly 7,000 taxing districts, which makes examining one’s tax bill a confusing exercise. While taxpayers are annoyed by the price tag, property taxes are also a primary source of revenue for local taxing bodies. This series examines some of the issues in Illinois for residents and taxing bodies.
The Illinois Farm Bureau’s (IFB) nonpartisan ACTIVATOR, a political involvement fund with a mission to elect pro-farm candidates regardless of party affiliation or office, recently endorsed Republican Allen Skillicorn of East Dundee for state representative in District 66.
“If we are lending money that ostensibly we don’t have to kids who have no hope of making it back in order to train them for jobs that clearly don’t exist, I might suggest that we’ve gone around the bend a little bit,” says TV personality Mike Rowe, best known as the longtime host of Discovery Channel’s Dirty Jobs.
“There is a real disconnect in the way that we educate vis-a-vis the opportunities that are available. You have – right now – about 3 million jobs that can’t be filled,” he says, talking about openings in traditional trades ranging from construction to welding to plumbing. “Jobs that typically parents’ don’t sit down with their kids and say, ‘Look, if all goes well, this is what you are going to do.'”
TAX ACCOUNTABILITY ENDORSES SKILLICORN
East Dundee, IL – Tax Accountability, the political arm of Taxpayers United of America, endorses Republican candidate Allen Skillicorn for State Representative.