Our friends at the Civic Federation have published a memo on Selected Consumer Taxes in the City of Chicago. Showing a total of 29 different taxes, it shows that the sales tax on general merchandise purchases in Chicago is now 9%:
- 5% State (of which 0.25% is passed on to RTA)
- 0.75% RTA
- 1.00% Cook County
- 2.25% Chicago
In restaurants we pay an additional 1.25%, of which 1% goes to McCormick Place and the remainder to the City.
Something I didn’t know about is that taxi medallions are reportedly taxed $78/month by the City. Anyone know when this started? If raised to something like $350 or $400/month, it wouldn’t affect the earnings of cabbies, except those who own medallions, and might bring in $25 million for the City.