“Lee is right: the availability of public transit adds thousands of dollars to the value of every property in the city – particularly the downtown commercial properties which are valued at closest to ‘par value’ (and which pay a much higher property tax rate than we homeowners, anyhow). It’s only fair that those of us who profit from transit pay to support it.
Indeed, I’m a stickler for ‘taxation nexus,’ the logical connection between what’s being taxed and what government service that tax pays for. Schooling raises incomes, both individually and socially, so we should pay for schools with an income tax. My own condo’s value has nothing to do with the nearby schools, but everything to do with the nearby ‘L’ stop – my property taxes should fund that service instead.”
– PC, bumping a recent discussion about a real-estate transfer-tax hike tied to the recent CTA rescue plan.
As Joe Zekas mentioned this weekend, Chicago Realtors have launched a campaign against the 40-percent tax increase. The City Council’s finance committee will review the levy today at 10 a.m.
The problem with this protest is that no one LIKES Realtors. I don’t think our government officials will move an inch on this because of Realtor pressure. The NAR would be better off disguising it as some sort of citizen action.
why do you think nobody liks realtors?
“It’s only fair that those of us who profit from transit pay to support it.”
I think I might describe it more as transit is a time-tested infrastructure investment, and that yes, everyone who is benefiting from the investment should have to kick in.
If we’re identifying the need to tie in income taxes to education funding, you made my day, though.
Really, I don’t understand how it’s possible for the State of Illinois to be functioning in direct violation of its own constitution, which declares that the state is responsible for paying the majority of public education costs, it seems that Republican or Democrat in charge, nothing ever changes.
my last 2 cents, a suburban GOP politician I agree with, this is what I get for taking the day off…
(in the Sun-Times letters today)
“CTA needs to clean up its act
As a Metra rider, I know the importance of mass transit, and I support funding for mass transit. I believe it is important that we insist the RTA spends public dollars wisely. While Metra and Pace have been well-run organizations, the CTA historically has made numerous poor fiscal choices.
The Illinois auditor general describes the overall benefit package for CTA employees as the richest of its kind in the nation. The recently approved transit bailout allows health coverage for life after only 10 years of service. The auditor general found the CTA spent $46 million last year on absenteeism. From 2001 to 2005, the CTA’s spending grew by 35 percent, triple the rate of inflation, while ridership dropped. By contrast, Metra’s spending went down over the last 20 years. While bus ridership at the CTA fell 45 percent since 1979, management actually added 15 percent more bus routes.
The City of Chicago must pay its share for transit needs. Suburban taxes should not be raised when Chicago pays less than half of 1 percent of transit costs. Riders also need to pay some of these increased costs through modest fare increases.
State Sen. Matt Murphy,
27th District (R-Palatine)
>”why do you think nobody liks realtors?”
To me they seem to be just a little more popular than lawyers in the popular imagination.