In need of 80 additional employees to keep up with the city's pothole repair deficit, Mayor Rah Emanuel is proposing that the city raise taxes parking.
"Mayor Rahm Emanuel wants to raise Chicago’s parking tax again — this time by 2 full percentage points — to raise the $10 million needed to double the year-round army assigned to patch potholes and repair crumbling streets," reports Fran Spielman.
Spielman provides additional details of the current parking tas scheme: "The parking tax currently stands at 20 percent weekdays and 18 percent on weekends, with 87 percent of the revenue generated by garages in the downtown area and at O’Hare Airport." As for what the increased tax rate would get the city: "By raising the tax to 22 percent on weekdays and 20 percent on weekends, Emanuel hopes to generate the $10 million needed to hire the 80 employees needed to staff 18 additional crews."
Spielman's coverage also details some of the other changes to taxes and tax breaks proposed in Mayor Rahm Emanuel's proposed budget. The article also covers Mayor Emanuel's past tinkering with the parking tax as well as the presenting the side of the opposition to any additional increases for the tax rate (i.e., tourism interests).
Read the full story: Emanuel eyes raising parking tax to pay for pothole patches
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