Property taxes

Officials of the art museum say the effects of Detroit's bankruptcy have impeded their efforts to build the endowment they had envisioned.

Though the market may view Chicago's budget as heading in the right direction, relying on the state is a gamble that's a concern for aldermen, too.

Nearly two in three finance officers in large cities predict a recession in the next year or two.

Mismanagement of real-property related taxes may be shortchanging an MTA revenue stream, said city Comptroller Scott Stringer.

The ruling on tax assessments orders Philadelphia to repay $48 million, with $34 million coming from the school district.

The lawsuits were filed a day after 11 Democrats in the Senate and a bipartisan group of 47 House lawmakers announced a long-shot effort to repeal the regulation using the Congressional Review Act.

The IRS regulation is targeted at ending workarounds by state and local governments that have been enacted since the cap was included in the 2017 Tax Cuts and Jobs Act.

Lawmakers are plowing through a pile of trailer bills, including two tax increases, that must pass to avoid blowing a hole in their $214.8 billion budget.

A tighter cap on local property tax rates for some cities and counties will factor negatively into future bond ratings, analysts warn.

Bills to limit the revenue flexibility of local governments and put more state funding toward schools were driven by a desire to limit property taxes.