WBEZ: Here’s what you need to know about the tax increase Chicago voters will consider in March

By Tessa Weinberg (WBEZ), November 7, 2023

This spring, Chicago voters will be asked whether they want to increase a tax on the sale of high-end properties to fund homelessness prevention.

Chicago’s City Council approved the citywide referendum Tuesday, handing Mayor Brandon Johnson a political win on one of his major campaign promises and achieving a long sought-after milestone for advocates that aim to prevent homelessness.

The campaign, known as Bring Chicago Home, seeks to adjust the real estate transfer tax, a one-time tax imposed on the sale of property. Voters would be asked to authorize City Council to adjust Chicago’s current, flat tax to a tiered, marginal tax that would increase the tax rate on portions of property above $1 million — while implementing a tax cut on property valued under that amount.

Chicago Coalition for the Homeless is a proud coalition member of Bring Chicago Home.

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