Brandon Johnson plans to propose property tax hike after campaigning against it: Report
Mayor Brandon Johnson is discussing the idea of raising the city’s property taxes. He plans to take up the matter at tomorrow’s City Council meeting, but few details are known.
Chicago’s Housing and Real Estate Commission will meet Tuesday to discuss a referendum that would reduce property taxes through an additional income tax on billionaires. Facing a $1 billion budget shortfall, Mayor Brandon Johnson is reportedly considering raising property taxes, despite his previous opposition. Former Governor Pat Quinn is campaigning for a referendum that will be on the ballot in November.
CHICAGO – A Chicago task force will meet Tuesday to discuss this November’s referendum on property taxes.
The Housing and Real Estate Committee will convene to discuss the property tax relief and equity referendum. They talk about the impact it could have on Chicago and the city’s potential uses for the proceeds.
Former Illinois Governor Pat Quinn is campaigning for its passage this election season.
It begs the question: Should the state constitution be amended to add another tax on income over $1 million to offset property taxes?
The website WalletHub reports that Illinois residents pay the second highest property taxes in the country, behind New Jersey.
There will be no vote on the referendum position at today’s committee meeting. This all comes as Mayor Brandon Johnson discusses the idea of raising the city’s property taxes.
Former Gov. Pat Quinn urges Illinois voters to pay attention to tax-cut referendum
Former Illinois Gov. Pat Quinn will try to persuade voters to agree to a non-binding referendum on whether the state should raise taxes on incomes above $1 million to provide property tax relief. It is said that
Mr Johnson is expected to raise the issue in his budget speech to city council tomorrow, but few details are known.
Three aldermen told the Chicago Tribune that the mayor will recommend property tax increases as part of his plan to balance the budget.
The city currently faces a budget shortfall of nearly $1 billion.
But Johnson has repeatedly told Chicagoans he has no intention of raising property taxes, including during a September 2023 interview with the Chicago Economic Club.
“We’ve relied on property taxes as our only source of revenue to balance the budget, and I think that’s lazy,” Johnson said.
Mr Johnson campaigned on that promise and has repeated it since taking office.
“I’m the only one with a budget plan,” Johnson said at last year’s FOX 32 Mayoral Candidate Forum. “I’m the only one telling people the truth. We’re going to invest in people without raising property taxes.”
