Updated: December 20, 2011 8:10AM
what it means for your wallet
Cook County approved a budget that calls for expanding and hiking taxes and new fees. Here’s how it will hit you in the wallet:
♦ The county is boosting its alcohol taxes, which means the tax on beer, for example, will go from 6 cents a gallon to 9 cents. The hike is expected to bring in $10.9 million in new revenues.
♦ The county will expand its tobacco tax to include currently excluded cigars and roll-your-own cigarettes. That includes a new 5-cent tax on small cigars while larger stogies will be 25 cents. Loose and smokeless tobacco will carry a new 30-cent-per-ounce tax. Big stogies will go up to 30 cents and the loose and smokeless tobacco tax will double to 60 cents an ounce in 2013.
♦ You’re going to pay more if you buy a boat or car or other titled property at a retail outlet. Currently the county charges a three-quarters of a percent tax on the purchase, but that will jump to 1 percent next year bringing in an additional $14 million in revenues.
♦ If you buy a car, yacht or other titled property through Craigslist, you’ll now pay a new tax, adding up to 1 percent of the purchase price, bringing in $8.5 million this year.
♦ Vehicle sticker fees will double for cars, trucks, motorcycles, trailers and other vehicles registered in the unincorporated area of Cook County. The stickers will go from $40 to $80 for sedans and $50 to $100 for most SUVs. The hike is expected to bring in $1.54 million
♦A 50-cent tax would be added to daily parking fees between $2.01 and $4.99 at garages countywide. Before, the tax didn’t kick in until the parking fee hit $3. Taxes on weekly and monthly fees on garage parking would expand similarly. That will bring in just over $1 million.
♦ There will now be a $4.75-per-day fee to park in the garages at the county’s five suburban courthouses, as well as at the main Cook County Criminal Courts Building at 26th and California.