From an article out of the Chicago Tribune, the investigative reporter exposes loopholes that have forced tax increases on homeowners and businesses when mistakes are made about fiscal obligations and affordability.
Today's Chicago Tribune Watchdog. HEADLINE ARTICLE.
Much of this should sound familiar Island Lake. Weren't you all told that the village would not and could not raise your taxes to pay for this building. Well, this law exposes the opposite! It says if the village cannot pay its debt, they can and will be forced to raise your taxes without a tax referendum, without your consent. Loopholes are politicians Nirvana.
"Even in places where residents might expect tighter oversight, Illinois' borrowing rules let towns sidestep voters, make decisions that can backfire on taxpayers."
"the money is going to pay off a gleaming Village Hall - for which officials borrowed big to build, without seeking voter approval."
"The catch for residents: If towns' projections are wrong, taxes are automatically hiked to make loan payments."
".......residents never got a direct say on whether to take out millions of dollars to build the new Village Hall - but they are paying for it anyway."
"The loan helped boost the municipal portion of the property tax bills about 35 per cent higher that tax caps would normally have allowed."
"Taxpayers are left to largely fend for themselves."
"Even if lawsuits are filed, the irony is that taxpayers get hurt no matter the outcome."