The Real Estate Transfer Tax doesn’t just tax expensive homes…

it threatens investment in every neighborhood of Chicago, costing jobs.

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Statement From Keep Chicago Affordable Regarding the March 19th, 2024 Defeat of the Proposed Real Estate Transfer Tax Referendum

Voters clearly saw the proposed real estate transfer tax for what it is – bad policy that can and should be defeated. The proposal will not build affordable housing, solve homelessness, provide mental health services or address the migrant crisis.

Supporters of this tax claimed this proposal would do all the above and more, but voters saw through the rhetoric and came to the conclusion the referendum was too badly constructed, too poorly defined and a cynical public policy effort that would result in a revenue stream far too unpredictable to accomplish its own stated goals.

If the Real Estate Transfer Tax passes, Mayor Johnson and his socialist allies will use this momentum to enact some of the most anti-business, anti-growth policies seen in decades, including:

Reinstating the Big Business Head Tax

Creating a Bank Securities and Speculation Tax

Creating a Jet Fuel Tax

Raise the Hotel Accommodation Tax

Creating an Online Landlord Registry

Keep Chicago Affordable is assembling a unique labor, business and community-based coalition representative of all of Chicago to defeat this socialist agenda.

The Time to Act is Now

In mid February, early voting starts at key sites throughout the City, and voters will shortly be heading to the polls to vote on Chicago’s future.

“This has an impact on neighborhood developments, apartment buildings, job creation.

A lot of folks are taking a look at what passed and what’s on the ballot and feel that there needs to be a response.”