Property Taxes
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The Impact of Gentrification on Homeowners
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When wealthy new residents move into lower-income neighborhoods, they often renovate homes and open upscale businesses. This drives up property values, property taxes, and rent. This chain of events may force current lower-income residents to move out. Gentrification is a major issue nationwide, and cities are searching for the “magic”…
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The Economic Impact of Place-Based Scholarships in Public School Districts
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Since the introduction of the Kalamazoo Public School District’s Promise Scholarship Program in 2005, public school districts across the country have announced similar initiatives, offering college scholarships for students who have attended its public schools for a set period of time. Because they are place-based, Promise programs incentivize families with…
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How Rising Property Taxes Engender Regressive Taxation
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As the old adage goes, two things in life are guaranteed: death and taxes. While it may not be lethal, some Cook County residents are in for a surprise when they open their next property tax bill. Reports indicate that between 2015-2016, the average property tax rate for a Chicago…
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Focus on Finance: Funding Pensions in the Windy City
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Chicago’s CFO explains the city’s immense financial challenges, her insights, and why she’s optimistic for the future.
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Municipal CFO Series: Richard Riebeling, Nashville
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Nashville’s CFO describes how a combination of tax increases, budget cuts, and infrastructure investments has kept the city thriving