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January 1, New Mayor Plans Massive Tax Hike To Combat Rampant Homelessness
Chicago Mayor Brandon Johnson’s plan to combat homelessness by raising taxes on real estate transfers will be put to a vote by Chicago voters in March 2024.
The “Bring Chicago Home” measure, which was approved by the Chicago City Council, aims to shift the flat tax rate to a three-tiered system.
Under this system, owners of properties below $1 million will actually see lower tax rates, while owners of properties between $1 million and $1.5 million and properties above $1.5 million will see their tax rates increase.
Advocates of the initiative believe it will alleviate burdens on property owners and smaller multifamily buildings while also addressing the city’s rising homeless population.
Mayor Johnson expressed confidence in the initiative, stating, “I am confident that the people of Chicago are going to say yes…my confidence is as strong as the people who sent me to do the work.”
He believes that voters will support the initiative in March.
The referendum will ask voters to approve the tiered tax strategy, which will generate revenue for addressing homelessness and providing permanent affordable housing in Chicago. The real estate industry is expected to oppose the measure, citing concerns about its impact on the market and increased costs for tenants.
However, the council decided that voters should have a say in the matter.
The Chicago City Council’s approval of the measure is a significant victory for Mayor Johnson’s administration, especially considering the recent fallout with one of his allies on the council.
The mayor cast the tiebreaking vote to not censure Alderman Carlos Ramirez-Rosa, who allegedly blocked another alderwoman from entering the chambers during a vote on a proposal regarding Chicago’s sanctuary city status.
Overall, the “Bring Chicago Home” measure will now be decided by the voters in March, determining whether this tax increase to fight homelessness becomes law.
Why It Matters
Chicago Mayor Brandon Johnson’s plan to combat homelessness through a tax increase on real estate transfers is a concerning proposal that will have far-reaching consequences for property owners and the housing market.
While the initiative claims to alleviate burdens on property owners, it fails to consider the negative impact it will have on the real estate industry and tenants.
By implementing a three-tiered tax system, this measure unfairly targets property owners with higher-valued properties, punishing their success and discouraging investment in the city. It also ignores the fact that raising taxes on real estate transfers will inevitably lead to increased costs for tenants, further burdening Chicagoans already struggling to make ends meet.
Furthermore, the decision to put this measure to a vote by the people undermines the expertise and knowledge of the real estate industry. The market should be left to operate freely, without unnecessary government intervention.
Instead of relying on tax increases, the city should explore alternative solutions to address homelessness, such as partnering with private organizations or implementing targeted assistance programs. It is crucial that Chicago voters carefully consider the long-term implications of this measure and reject it in March.
As our loyal readers, we encourage you to share your thoughts and opinions on this issue. Let your voice be heard and join the discussion below.
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kurt gandenberger
November 14, 2023 at 6:14 am
i guess they cannot house the homeless in fine hotels since they are all occupied by illegal aliens. but as businesses flee they can take and re-purpose the commercial properties. sounds to me like they have all the answers.
1PatriotForever
November 14, 2023 at 6:46 am
Thats right Democrat Mayor “PENALIZE” and force the workers to be homeless next. What an A$$bite. Take from your pocket, you workers, your cities coffers, stop the give aways to programs that are ridiculous and focus on your city. Democrats destroy lives, they dont improve them, they cause Fatherless homes and reward that, they want to defund police, they encourage crime and they tx people to death. How much did it cost the city for Obamas MONOLITH??? You wanted conservatives to be swarmed with Illegals but now you are getting swarmed. How’s that workin for ya? You are the TYPICAL Communist politician – Robb the poor and homeless while you stuff your pockets and placate the ones with money who run your party. Shame is ON YOU and your ilk
CandygramForMongo
February 21, 2024 at 6:50 am
Have you ever heard of someone, anyone, electively go and become a field slave on the democrat plantation???? Slaves worked by force, not by their own willingness. Democrats have NEVER changed their plantation overseer mentality. Everyone works for them!!!
sunshine Kid
November 14, 2023 at 8:07 am
So tax and spend is all the government knows how to do. It actually does NOT fix anything at all. Your property is NOT YOURS. You RENT it from the government in the form of taxation. If you don’t pay your taxes, you get evicted and some other schmuck takes on your rental obligations to the government.
Sorcerer
November 14, 2023 at 10:24 am
Looks like Johnson is the male equivalent to former mayor Lightfoot. Dumping the cost for providing funds for the homeless on the taxpayers. Of course, I have no sympathy towards the residents of Chicago, due to the fact that they keep voting these kind of IDIOTS into positions where they can be bled dry by people that don’t give a r*** a** to the residents in the first place.
Mahlon Bailey
November 14, 2023 at 10:33 am
He is only doing this because of the number of illegals that have flooded the city. Due to Biden actions
Bob Yormick
November 14, 2023 at 2:29 pm
That’s the consequences you suffer for voting for Biden or Johnson————–HIGHER TAXES
Nate Paris
November 14, 2023 at 10:52 am
More taxes. Taxes take care of everything! Maybe if enough taxes are implemented, we all will become homeless and then taxes will be gathered from no one!
LMB
November 14, 2023 at 11:07 am
Do you see the millionaires moving out of the city if they haven’t already!!
Bob Yormick
November 14, 2023 at 2:26 pm
You’ll see a lot of people who own property ABOVE the amount that will increase the taxes on that property, move OUT of the city. They will either move to the suburbs or completely out of the state.
Jim
November 14, 2023 at 3:23 pm
Notice how Socialists always want other people to pay for their mistakes? Former British PM Margaret Thatcher summed it up best — ‘Sooner or later, Socialists run out of other people’s money’.
Linda Sykes
November 14, 2023 at 5:28 pm
I think it’s about time that millionaires pay their share of the burden instead of the poor working slobs. Don’t worry…they’ll find a way to write off things or make up for it when they file their income taxes. They have a good teacher in Donald Trump; take a look at his tax filings (particularly how much he claimed for his haircuts/treatments). I can see why he didn’t want to release them!
Ken
February 21, 2024 at 4:24 pm
“Millionaires” and others in very high income brackets already pay about 80% of all taxes. When you tax a multifamily dwelling at a higher rate, who pays for it? NOT the owner! He simply raises the rent that his tenants pay to pay his tax bill. The little guy loses again
jeff Taylor
November 14, 2023 at 8:21 pm
Taxing your way to prosperity is like standing in a bucket and trying to pick it up. It has never worked, and never will
WOKE JOKES
November 14, 2023 at 10:08 pm
Stop paying for homeless to flock to your shitty…welfare, section 8 housing, SNAP etc.
Then the leftists will stop going to your utopian ghettos.
WIN WIN, you idiots!!!
Robert Leo
November 15, 2023 at 11:13 pm
Well hello Robin Hood, I wondered where you were all these years??
CandygramForMongo
February 21, 2024 at 6:45 am
So they tax everyone into submission, people lose their homes, end up living on the streets……so they decide that they’re going to help out the homeless by making the remaining taxpayers homeless by these SCUMBAGS and their ENDLESS goddamn taxation scheme. How about being fiscally responsible with EVERYONE ELSES money. You put them on the streets, so make everyone else suffer.