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(The Center Square) – The Chicago City Council on Monday approved a new budget without a property-tax increase, but many aldermen say the mayor still needs to cut spending. The council voted 27 ...
Chicago’s financial forecast is clouded by a $982.4 million budget deficit, and Mayor Brandon Johnson's proposed $300 million property tax hike has stirred up a storm of discontent with council ...
Darryl Lloyd wasn’t prepared to receive a property tax bill of more than $30,000 this year — a whopping 1,567% hike from last year’s bill of $1,800.
The word is a Law French term meaning "dead pledge," originally only referring to the Welsh mortgage (see below), but in the later Middle Ages was applied to all gages and reinterpreted by folk etymology to mean that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure. [1]
Most general obligation pledges at the local government level include a pledge to levy a property tax to meet debt service requirements, and holders of general obligation bonds then have a right to compel the borrowing government to levy that tax to satisfy the local government's obligation. Because property owners are usually reluctant to risk ...
A full coverage search is usually done when creating a title report for sale/resale transactions and for transaction that involves construction loans. It generally includes searches related to property lien, easements, covenants, conditions and restrictions(CC&Rs), agreements, resolutions and ordinances that will affect the real property in question.
CHICAGO — Mayor Brandon Johnson eked out a victory Monday with the narrow passage of a $17.3 billion municipal budget plan that does not raise property taxes.
A number of private transfer fee covenant laws require the seller to disclose the existence of the transfer fee and, failing to do so, the buyer can recover the difference between the market value of the real property subject to the private transfer fee obligation and the market value of the real property if the real property were not subject ...