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Chicago Board Approves $25 Million Tax Hike Amid School Funding Crisis

1/4/2026

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Chicago Board Tax Hike

The Chicago Board of Education voted to raise property taxes to the legal limit, generating $25 million.
Board member Norma Rios Sierra emphasized funding is needed amid charter school closures and reduced federal support.
Some members opposed the increase, citing rising assessments and urging tighter financial management.
The tax hike will cost homeowners about $8 for a $250,000 home and $16 for a $500,000 home, with elections scheduled for 2027.

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Government's School Tax

The VAT on private school fees took effect January 1, 2025, contributing to closure of 105 independent schools, 19 in London, per Julie Robinson of the Independent Schools Council.
Government says pupil numbers remain stable and ending private-school tax breaks will generate £1.8 billion by 2029/30 to support public education.
In Fort Worth ISD, four schools will close due to declining enrollment and aging infrastructure, saving over $77 million.

History

Historical Context

The 1976 Tax Reform Act reshaped property tax structures, exacerbating funding disparities in Chicago's schools, where wealthier districts benefited disproportionately. By 2013, the Chicago Board of Education's decision to raise property taxes by $25 million aimed to address ongoing financial pressures, following the closure of 54 public schools under Mayor Rahm Emanuel, which predominantly affected African-American communities.

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Chicago Board Tax Hike

The Chicago Board of Education voted to raise property taxes to the legal limit, generating $25 million.
Board member Norma Rios Sierra emphasized funding is needed amid charter school closures and reduced federal support.
Some members opposed the increase, citing rising assessments and urging tighter financial management.
The tax hike will cost homeowners about $8 for a $250,000 home and $16 for a $500,000 home, with elections scheduled for 2027.

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