Overview
- The board approved the increase on a 15–5 vote at a special meeting, lifting the total requested levy to $4.12 billion.
- Officials said earlier reliance on estimates left room under the tax cap, and the new levy captures the remaining amount permitted under state law.
- Cook County delays led CPS to borrow $1.6 billion in short-term loans, costing about $33 million in interest, and the added revenue could offset part of that expense.
- CPS estimates an added cost of about $8 for a $250,000 home, while several elected members opposed the hike as a strain on working families.
- The decision follows a City Council budget that redirects roughly $1 billion in TIF funds to CPS, as the district navigates ongoing fiscal stress and recent oversight concerns.