A new proposal from Mayor Rahm Emanuel could mean another heavy burden on Chicago homeowners.
In a speech to investors Wednesday, Emanuel suggested applying a tax on the city water and sewer bills under a plan that would increase the utilities by close to 30 percent over the course of four years.
Under the proposal, the average homeowner’s water and sewer bill would increase by more than $50 next year, or around $9 on the bills sent out every two months, according to the Chicago Tribune.
By the end of the four-year phase, the average homeowner would pay an additional $226 per year, the Tribune reports, or close to $38 on each bill.
Emanuel believes the new tax will help stabilize the city’s pension fund. With the new revenue source, the city could raise close to $239 million a year to help reduce the multi-billion dollar municipal workers fund that the city of Chicago owes.
The mayor says he will seek a City Council vote on the water and sewer tax in September.