Illinois, Brad Robinson, Coverdale discussed on The Endurance Sports Network with Bob Babbitt
But I hear some of the top stories from the past week property owners across Illinois could face higher taxes or service cuts in two thousand nineteen as growing pension costs. Cut into local budgets. Collider back has more officials with the city of carterville voted Tuesday night to approve the tax hike under the pressure of their growing police and fire pension bills having skyrocketed in just the last couple years mayor Brad Robinson says police and fire pension bills have spike from sixty thousand dollars in two thousand eleven to four hundred and thirty thousand dollars this. Year for his town of just fifty six hundred people. It is. It's extremely frustrating. And. You know, the the it. It'd be different. If if myself and the city council had squandered away or and it made. Ill informed decisions or had blown a bunch of money, and then be held account to account for it. But you know, we're in a situation where somebody hundreds of miles away made rules that and I don't know where they came up with five thousand just I'm sure somebody just pulled it out of the air. But for for a the mayor of the town of fifty six hundred people it it, it's it's quickly going to become unsustainable. Lawmakers are requiring local pension funds to be nearly fully funded by twenty forty which is what Robinson says is raising costs so much Mark Lennon with financial watchdog wire. Points says towns across Illinois are either cutting personnel or raising already high property taxes to cover the exploding pension costs. This is going on all across the state little Coverdale down there five thousand people all the way up to the biggest cities. He's pension contributions are reading their watch. Seventy sixty one hundred percent of their tax Bill is going to pensions, in some cases. Cutters funded liability of it. They're they're putting ratio is only thirty five forty percent. Pasty's intercepts if they don't make these contributions polls by Springfield as an unfunded mandate. It's a quite he's gotta deal with Glennon says many of these cities property tax bills, go entirely to pay for pensions. I'm call despite state and Chicago ficials offering a billion dollars in tax incentives and other perks to lure online retail giant, Amazon, Illinois won't get that investment. Amazon announced Tuesday this week that it plans to split this new headquarters between New York in northern Virginia. While some of said, Illinois needs to adopt more business friendly policies to bring in new companies Skype with state Representative will dismissed that. Moreover story.