Overview
- The Board voted 15–5 at a special winter-break meeting to raise the levy from 3.8% to 4.78%, capturing the remaining amount allowed under state limits before the deadline.
- CPS said months-late tax data and billing forced $1.6 billion in short-term borrowing that has cost about $33 million in interest, with more than $1.3 billion in receipts still outstanding.
- Officials estimate the change adds roughly $8 to the bill for a $250,000 home, yet opponents warned the compounding and recent reassessments have already hit South and West Side homeowners hard.
- CPS outlined plans to direct the added revenue to operating needs, teacher pensions and special education transportation, describing the move as one of few available levers.
- The vote followed an earlier cancellation and drew criticism over timing and transparency, as the City Council also approved a one-time TIF sweep to CPS and officials noted such levy hikes are routine.