Local Government Budgets

The Cost of a Two-Year Property Tax Freeze For Illinois Schools: Up to $830 Million

Release: June 23, 2017

Governor Bruce Rauner has made a property tax freeze a centerpiece of his demands for a full state budget, and the Illinois Senate passed a bill (SB484) that would enact a two-year freeze in May. But such a freeze, without provision for replacement revenue from the state, would effectively be a massive funding cut for K-12 education in Illinois.

UPDATED: Illinois Property Taxes

Release: May 14, 2015

This Issue Brief is an update to a 2007 Brief, and provides an overview of who pays property taxes in Illinois, the steps in the property tax cycle, and what property tax revenue is used for. 

Analysis of Proposed FY2014 Chicago Public Schools Budget

Release: August 27, 2013

Despite an increase in spending, Chicago Public Schools is proposing to eliminate 1,520 instruction positions and draw down reserves to dangerous levels in its FY2014 proposed budget. This is, partly, because CPS has underfunded the Chicago Teachers' Pension Fund and there has been a decline in state funding to CPS. CTBA's Analysis of the FY2014 Chicago Public Schools Budget Proposal illustrates the challenges CPS faces today.