Chicago, IL

TIA Data

2017 Chicago Combined Taxpayer Burden (Released 5/14/2019)

2017 Financial State of Chicago (Released 1/29/2019)

 
Chicago's Taxpayer Burden.™ is -$36,000, and received an "F" from TIA.
Chicago is a Sinkhole City without enough assets to cover its debt.
Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.
Chicago only has $9.5 billion of assets available to pay bills totaling $42 billion.
Because Chicago doesn't have enough money to pay its bills, it has a $32.5 billion financial hole. To erase this shortfall, each Chicago taxpayer would have to send $36,000 to the city.
The city is hiding $655.3 million of its retiree health care debt. A new accounting standard will be implemented in the 2018 fiscal year which will require governments to report this debt on the balance sheet.
The city's financial report was released 180 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Chicago Combined Taxpayer Burden

2016 Financial State of Chicago Public Schools

2016 Financial State of Chicago

2015 Financial State of Chicago Public Schools

2015 Financial State of Chicago

2014 Financial State of Chicago Public Schools

2014 Financial State of Chicago

2012 Financial State of Cook County

Other Resources

Chicago Comprehensive Annual Financial Reports

Publishing Entity: City of Chicago Finance Department

IN THE NEWS
Chicago’s ‘amusement’ tax is no laughing matter

MAY 23, 2019 | AMERICANS FOR TAX REFORM

“… Government bureaucracies operate under a “see what sticks” mindset, and have no qualms about throwing all types of new taxes on the Internet regardless of legal precedent and future effects.  Chicago already has one of the highest sales tax rates in the country at 9.25%. Now, the tax collector can literally infiltrate the living room. The meager money grab by the struggling city is not only bad for Chicago’s economy in both the short and long term, but could also set a dangerous precedent for tax discrimination.”

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