Sales Tax Rollback in Chicago?
July 23, 2009
The Illinois Policy Institute has the latest on the issue:
By a vote of 12-3, the Cook County Board voted to roll back the sales tax by half of last year’s 1 percent increase. This means Chicago will soon no longer have the highest [major] sales tax in the country as the total [rate] will dip from 10.25 percent to 9.75 percent.
Although Board President Todd Stroger has threatened to veto the rollback, it is likely the veto will be overridden if Forrest Claypool and Tony Peraica join the 12 other board members to get the 14 out of 17 votes needed to override the veto.
Pico Rivera and South Gate in California should be on notice! Those small communities with serious fiscal management problems saw their sales tax climb to 10.75% effective April 1. If Chicago lowers theirs, it’ll be quite a gap between them and the next highest rate.
More on Illinois (and Cook County sales tax) here.