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Wednesday, July 22, 2009

Cook County board cuts sales tax

Despite a veto threat by the county president, the Cook County Board of Commissioners has voted to roll back part of an unpopular sales tax increase.

The board voted Tuesday to cut the county sales tax rate from 1.75 percent to 1.25 percent effective Jan. 1. If County Board President Todd Stroger vetoes the rollback it will take 14 of 17 commissioners to override him.

The county board voted last year to increase the county’s share of the sales tax by 1 percentage point - from 0.75 percent to 1.75 percent to balance the budget. It drove the total sales tax in Chicago to 10.25 percent, making it the highest of any major city in the country.

If the county board upholds the vote the Chicago tax rate would be 9.75 percent.

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