Aldermen support referendum on real estate transfer tax

A Chicago City Council committee advanced an ordinance Tuesday that would ask voters about raising the real estate transfer tax to combat homelessness.

The Rules committee approved the revamped "Bring Chicago Home" measure that offers a tiered tax rate on all property sales, which advocates say would generate much-needed revenue for the city's homeless population but opponents warn would harm small-to-midsize property owners — including landlords who may raise rents. Aldermen support referendum on real estate transfer tax, sending ordinance to full City Council A Chicago City Council committee advanced an ordinance Tuesday that would ask voters about raising the real estate transfer tax to combat homelessness, bringing a key plank of Mayor Brandon Johnson's progressive agenda just one step from facing a citywide referendum vote next March. Read Story © Copyright 2023 Chicago Tribune. All rights reserved. 560 W. Grand Ave. | Chicago, IL 60654 Unsubscribe