Cook County taxpayers face projected $550.7 million deficit
(The Center Square) – Cook County Board President Toni Preckwinkle has projected a budget gap of $550.7 million dollars for fiscal year 2027 in a jurisdiction where taxpayers are still waiting for property tax relief.
Preckwinkle’s announcement came in a statement released on a Wednesday night, after two years of residents being impacted by dramatic property tax increases.
The board president said her administration has done things the right way when it comes to budgeting.
“We use best practices, we spend responsibility, we pay down legacy obligations, we plan ahead and set aside money for emergencies, but the county is not immune to extraordinary outside factors like federal action or court rulings,” Preckwinkle’s statement said.
Preckwinkle said a court-ordered restriction on the use of transportation tax revenue helped drive a projected $336 million general funds budget gap.
The county’s health enterprise fund is forecast to have a $214.7 million deficit due to added spending on charity care services and an expected decrease in CountyCare membership caused by “sweeping federal cuts and Medicare eligibility restrictions.”
Illinois lieutenant governor candidate and former Cook County Republican Party chairman Aaron Del Mar said the budget gap did not happen overnight.
“It’s the result of years of spending decisions that have failed to account for the long term realities,” Del Mar told The Center Square.
Last November, the Cook County board unanimously approved a $10.12 billion budget for fiscal year 2026.
The county budget in fiscal year 2018 was $5.2 billion.
Del Mar said Preckwinkle and county commissioners need to examine their departments, contracts and programs to identify waste and inefficiency.
“We need to protect the essential services of public safety, public health, infrastructure, but we need to eliminate spending that doesn’t serve taxpayers,” Del Mar said.
He said raising taxes again would only make the problem worse.
“The people of Cook County are already paying some of the highest taxes in the country, and many are leaving because they can no longer afford to stay,” Del Mar said.
State Rep. Anthony DeLuca, D-Chicago Heights, said the Illinois legislature needs to make more of an effort to provide property tax reform.
DeLuca said tax relief is needed before additional state spending.
“We should not be throwing new money at a problem that is structurally broken. So we have to have some of those reforms that take place, and none of them are easy,” DeLuca said.
On June 11, Preckwinkle announced the appointment of Angela Manning-Hardimon as Cook County Bureau of Finance’s new chief financial officer.
Mostly Sunny
Latest News Stories
New York loses $73M in federal funds tied to CDL failures
New York loses $73M in federal funds tied to CDL failures
Struggling DHS agencies plead with Congress for funding security
WATCH: U.S. military strikes continue daily along Pacific drug routes
Indiana Man Faces Federal Indictment, Potential Death Penalty for Momence Bar Owner’s Murder
Illinois Quick Hits: State unemployment rate hits 5%
Illinois Quick Hits: State unemployment rate hits 5%
U.S. House extends Haiti TPS three years, sends to Senate
U.S. House extends Haiti TPS three years, sends to Senate
Swalwell’s exit leaves uncertainty in gubernatorial race
Swalwell’s exit leaves uncertainty in gubernatorial race
Pritzker wants Bears legislation to move faster; tax questions loom large
Pritzker wants Bears legislation to move faster; tax questions loom large
