Chicagoland Chamber of Commerce President and Chief Executive Officer Theresa E. Mintle testified during the city of Chicago, Illinois' public hearing on Mayor Rahm Emanuel’s proposed 2016 city budget late last week.
“The Chicagoland Chamber and the business community stand ready to be a partner in securing our city’s future, but we will not and cannot accept a further shift of that responsibility on to the employers who create jobs and anchor our neighborhoods,” Mintle said. "The chamber recognizes the need to right the fiscal ship of the city after decades of neglect and mismanagement, but opposes any proposal— whether in Springfield or at the City Council — to double the residential homeowners’ exemption from $7,000 to $14,000."
Mintle went on to call Cook County's property tax classification system "archaic," and maintained it had "kept property taxes artificially low for Chicago homeowners for decades."
"Residences will continue to enjoy some of the lowest property taxes in Cook County because of the unfair burden paid by employers," Mintle said. "Employers already pay 2.5 times more than residences because of this classification system."