Chicago Mayor Rahm Emanuel reportedly wants a $500 million property tax hike to help the cash-strapped city cover costs for police and fire pensions and school construction.
On top of that record $500 million property tax increase, the Chicago Sun-Times reports that Emanuel's 2016 budget will propose a $10 to $12 monthly garbage collection fee, a $1 surcharge on cab and ride-hailing trips, like Uber, and a tax on e-cigarettes and smokeless tobacco. The e-cigarette tax would be about the same as the city's $7.17 per-pack tax on cigarettes.
The garbage collection fee would produce $100 million in additional revenue for the city, according to the Sun-Times.
The Emanuel administration has estimated that the city of Chicago needs a minimum of $754 million in revenue and spending reductions to plug next fiscal year's budget hole and cover the city's increased police and fire pension contributions.
Of the proposed $500 million property tax increase, $450 million would go toward police and fire pensions and $50 million for school construction costs.
Emanuel is set to unveil his 2016 budget plan on September 22.