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Subject Tales from the Illinois Exodus Part 5: Chicagoans finally awakening to pension bomb

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Original Message She and her family have lived in their 1890s rehabbed home in Ravenswood since 2001. They had hoped to stay until they were hit with their recent Cook County property tax bill that may force them out.

“Overall for the year it increased by 60%,” she said. “We are now paying almost $21,000 — $20,200.”

She said they had been paying $12,000.

Gold said the extra $800 a month they need to find to pay their new yearly bill erased any college money they had hoped to save for their youngest son.

She won’t be alone if she joins the Illinois Exodus. Chicago has been losing population for several years and the Land of Leavin’ has been suffering from declining population for five straight years. Rising taxes to pay for often lavish underfunded pensions for government retirees, most of them members of public-sector unions, are the heart of the problem. Not just for Chicago, but across the state.

[link to datechguyblog.com]

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