The Chicagoland Chamber of Commerce released the following statement regarding Chicago City Council’s approval of the FY22 budget:
“We commend the Mayor and City Council for utilizing American Rescue Plan funds to further invest in long-term violence prevention programs, filling police vacancies, and workforce development programs, but we remain concerned that Chicago businesses and residents will face another property tax increase while trying to achieve economic recovery and getting people back to work. For the second consecutive year, Chicago businesses will face an increase in property taxes, all while contending with skyrocketing property assessments, which in some cases have doubled or even tripled in value, due to the Cook County Assessor’s office shifting even more of the tax burden onto businesses, leading to larger property tax bills. Following a year and a half of extra safety costs, capacity restrictions, ever-growing public safety concerns, and general uncertainty, many businesses are still struggling. Chicago’s business community needs to see more direct support, an immediate plan to fill police vacancies and bolster public safety efforts, and a stop to these annual property tax pressures. As always, the Chicagoland Chamber of Commerce and the city’s business community stands ready to work with City Council and Mayor Lightfoot as we rebuild from the pandemic and drive economic opportunity,” said Jack Lavin, President & CEO, Chicagoland Chamber of Commerce.