Cities all over the country (and the rest of the world) are grappling with pension fund problems. Every year, pension obligations increase, and city officials have to come up with ways to meet those obligations. One of the most common ways cities fund pension payments is by increasing property taxes. In fact, over the last decade, citizens in many cities have seen their property taxes go up every year. And judging by the state of many pension funds in many parts of the country, it looks like property tax hikes of varying degrees will remain the norm for many for the foreseeable future. PROPERTY TAX RATES AND PENSION FUNDS IN ILLINOIS In Illinois, a growing list of cities and municipalities have been seeing rising property taxes, with officials struggling to pay for pensions. In the city of Quincy, for instance, homeowners will see a higher property tax rate in 2019. The increase is geared towards meeting the surging cost of pension obligations According to Illinois Po...