Report: Chicago-area city debt rates are climbing
CHICAGO – A published report said at least 52 towns in the Chicago area have debt that exceeds 5 percent of the community’s property tax base.
The Chicago Tribune reported in its Sunday editions on its analysis of municipal debt in more than 270 communities in Cook, DuPage, Kane, Lake, McHenry and Will counties.
The Tribune looked at general obligation bonds, which are big loans that cities promise to pay off even if it means raising taxes.
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