Crain’s Chicago Business | March 23, 2024
The “Bring Chicago Home” referendum to raise some real estate tax for homelessness prevention programs has failed.
The Associated Press called it, with just under 53% of voters rejecting the proposal and just under 47% in favor and a margin of roughly 21,000 votes.
The ballot measure asked voters if they approved raising the city’s real estate transfer tax on high-end properties to create a revenue pool to fund programs to address and prevent homelessness.
The new tax — a key plank of Mayor Brandon Johnson’s election campaign —would have raised the one-time fee paid on property sales over $1 million while lowering it on less expensive homes and buildings.
https://www.chicagobusiness.com/politics/bring-chicago-home-fails-53-percent-vote-no
