Lightfoot has generally avoided big property tax increases,

 Lightfoot has generally avoided big property tax increases, 

but has not avoided levy hikes to keep up with rising pension costs. The city’s levy under Lightfoot has risen from roughly $1.54 billion in 2020 to $1.73 billion in 2023. Her first budget raised the levy by $64 million. Her next included her largest increase, $94 million, followed by a $76 million rise the next year and $25 million for 2023, in which she waived her policy of tying increases to inflation.

Lightfoot argued the inflation policy made practical sense for both the city and taxpayers, and also showed she had a political discipline that her predecessors lacked.

This year’s waiver was possible thanks to better-than-expected revenues, but others suspected it was to avoid having an election-year property tax increase.

City growth and development

Most candidates said the city needs to grow to reduce the tax burden. In 2019, Lightfoot and former U.S. Commerce Secretary Bill Daley set a goal of getting Chicago’s population, now at about 2.7 million, back to 3 million people by 2030.

Referencing the aspirational 1909 Burnham plan to reimagine the city, Vallas said recently that he wants to expand programs to rebuild the South and West sides.