Chicago Cancels Property Tax Increase Amid Extended Olympic Loan Payment

In a significant turn of events, the city of Chicago has decided to forgo an impending property tax hike. This decision comes as the local government shifts its fiscal strategy following the announcement that the repayment on loans tied to the city’s Olympic bid is to be extended. The move aims to alleviate the financial burden on residents while providing a more feasible long-term fiscal plan for the city.

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