The Chicago Board of Education voted Monday to raise property taxes once again, seeking to pull an additional $25 million in revenue for Chicago Public Schools (CPS).
This new hike comes on top of a massive $232 million tax increase approved last summer.
Board officials decided to amend the original plan after realizing they hadn’t yet reached the maximum tax limit allowed under Illinois law.
Monday’s vote officially pushes the district’s tax levy to that legal ceiling for the 2026 fiscal year.
How Much Will Your Taxes Go Up?
For a homeowner with a property valued at $250,000, the new increase is expected to add about $8 to their annual tax bill.
Residents will see this change reflected in 2027 when next year’s taxes are collected.
Why the Extra Funding?
While $25 million represents a small portion of the total CPS budget, officials say the funds are necessary to stabilize the district’s struggling finances.
To close a staggering $729 million deficit last summer, the board was forced to:
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Cut central office staff.
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Reduce funding for various after-school programs.
By hitting the legal limit on property taxes, the board aims to secure every available dollar to prevent further cuts to student services.
