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.