Cook County Treasurer's Office - 6/22/2018
Treasurer Maria Pappas sent a letter to Cook County Commissioners declaring a “budgeting disaster” after the Board President Toni Preckwinkle’s office released its preliminary forecast for the 2019 fiscal year.
Pappas estimated the treasurer’s office would net $30 million by the end of 2018, though her office was budgeted by the Preckwinkle administration to take in $61 million. Preckwinkle’s office revised their estimates this week for revenue from the treasurer’s office to $38 million.
Pappas blamed the early date of the tax sale for the dramatic drop. Preckwinkle’s team blamed federal tax changes and increased awareness about the consequences of paying late.
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