Report: Chicago Civic Fed. backs property tax hike

August 22, 2011 3:45:28 PM PDT
The Chicago Public Schools' property tax hike proposal is getting support from the Chicago Civic Federation.

CPS wants to raise property taxes by 2.1 percent, the most allowed under the law.

The non-partisan watchdog group praised the CPS for significant spending cuts and other money saving measures.

The school board meets this Wednesday to take up the budget and the tax hike proposal, but the federation warns of a fiscal crisis three years from now when pension contributions will jump by more than 200 percent.