[the urban politician]

^ The other aspect of this discussion is stability and predictability.

If we knew that property taxes were going to increase incrementally but with a sense that things were under control (pension obligations, etc) then I think most people would stick it out and be willing to ride along.

Chicago is in the unique situation of having a fiscal situation that basically headed towards financial collapse, and no amount of taxing will save it. So it doesn't surprise me that homeowners are bailing.