- AP Photo/M. Spencer Green
- Mayor Rahm’s pension plan socks it to geezers, jacks up your taxes, and increases the flow of slush to his TIFs.
As you may or may not have read in the papers, Mayor Emanuel’s in a big hurry to have the state enact his pension plan. He says it’s good for the city.
The bill will, among other things, cut payments to municipal retirees, jack up property taxes, and give the mayor more slush funds to play with.
The property tax you pay is basically determined by multiplying the tax rate by your property’s value. If your property’s value is $100,000 and the tax rate is 10 percent, then you pay $10,000 in property taxes.
Well—a secondary benefit to the mayor, anyway.
But I’m sure that will never, ever happen, for a host of reasons, starting with the hissy fit of massive proportions that Mayor Rahm would throw if someone even suggested it.
