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Record #: O2016-7759   
Type: Ordinance Status: Failed to Pass
Intro date: 10/5/2016 Current Controlling Legislative Body: Committee on Finance
Final action:
Title: Amendment of Municipal Code Chapter 3-92 regarding City Council vote requirement for approval of certain taxes and appropriations
Sponsors: Villegas, Gilbert
Topic: MUNICIPAL CODE AMENDMENTS - Title 3 - Revenue & Finance - Ch. 92 Chicago Property Tax, Municipal Tax, and Budget Limitations
Attachments: 1. O2016-7759.pdf
Related files: R2019-362
Ordinance
Expanding the Property Tax Limitation Ordinance to Promote the Interests of More Residents in the City's Tax and Spending Policies

WHEREAS, many City residents, families, and taxpayers continue contending with severely challenging financial straits due to ongoing constraints in the regional economy;
WHEREAS, due to economic disparities among various neighborhoods and communities ofthe City, certain neighborhoods and communities are more adversely affected by the negative consequences of ongoing constraints in the regional economy; and
WHEREAS, it is appropriate and right that the adverse consequences of tax policy on many of the City's neighborhoods and communities be given due consideration and weight; and
WHEREAS, the regional economy is not so elastic that it can continue to absorb tax increases without undue negative effects on the economy in general and certain neighborhoods and communities in particular, absent greater input and involvement of all relevant parties; and
WHEREAS, it is appropriate and right that City officials tighten their civic budgetary belts in the same manner that City residents, families, and taxpayers, and families continue to tighten their own domestic budgetary belts; and
WHEREAS, it is appropriate and right that City officials, in shaping tax and spending policy, more broadly consider the input of more of the City's neighborhoods and communities; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO that Chapter 3-92 of the Municipal Code is hereby amended by added the underscored text and deleting the struck-through text as follows:


CHICAGO PROPERTY TAX, MUNICIPAL TAX, AND BUDGET LIMITATIONS
3-92-010 Chapter title.
3-92-020 Definitions.
3-92-030 Limitation.
3-92-040 Merging and consolidating taxing districts; transfer of functions.
3-92-050 Disconnected territory.
3-92-060 Annexed property.

Tax increment financing districts.
3-92-080 Certification of new property. 3-92-090 Rules. 3-92-010 Chapter titl...

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