Wirepoints: Teachers' contract deal will increase pressure on tax base, driving even more Chicagoans away
With junk credit and a broke city to fall back on, Chicago Public Schools (CPS) will have to cover the costs of a new teachers’ contract through higher property taxes. That bill will amount to an estimated $1.5 billion over the next five years, according to an analysis by Ted Dabrowski and John Klingner of Wirepoints. And, they say, the estimate is on the low side.
Teachers union president, Sharkey, wants city homeowners to pay more in property taxes while he gets a big break on his
Chicago Teachers Union (CTU) President Jesse Sharkey gets a discount on his property taxes, but wants other city homeowners to dig even deeper to satisfy the demands of the city's 24,000 teachers and their broke pension system.