The proposed question asking Chicagoans to approve a big increase in the real-estate transfer tax has been kicked off the March ballot. The editorial board endorses voting NO if it returns.
Aldermen Maria Hadden, left, and Rossana Rodriguez-Sanchez celebrate during a news conference after a vote to authorize a referendum question for voters to fund homeless services passed on Oct. 31, 2023.
What has that got to do with Ballot Question 1, a referendum that was to ask March voters to approve a major increase in the real estate transfer tax to create a projected new annual revenue stream of $100 million to alleviate homelessness before it was thrown into legal limbo late on Friday afternoon by a Cook County judge?Duncan had his act together on the former, having come up with a specific plan that everyone could and did get behind, that had buy-in from business and resource-rich...
This all happened because, after an initially lukewarm response to their tax plan in City Council, the Bring Chicago Home campaign learned from that failure and its proponents sweetened this deal for voters bytransfer taxes on Chicago real estate transactions under $1 million to 0.6%, down from the current rate of 0.75%, even as they would hike it to 2% for deals between $1 million and $1.5 million and 3%, four times the current rate, for transactions above that amount.
The proponents of approving this ask, which aims to “bring Chicagoans out of the cold and into a home,” have little trust in the private sector. Their mailings reference “wealthy real estate developers who profit from the housing crisis.
In recent days, the editorial board has heard from those for and against “Bring Chicago Home,” to some degree another swing at the kind of tax redistribution voters rejected when they turned down the question of a graduated income tax in Illinois. Others, including Jeff Baker, CEO of Illinois Realtors, disputed that.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Katy Perry’s Nonalc Drink Actually RocksEditorial Content Creator Food52
Weiterlesen »
The Presidential Dining Power RankingsEditorial Content Creator Food52
Weiterlesen »
‘SpongeBob’ Actor Tom Kenny Reflects on Nickelodeon Super Bowl Broadcast: EXCLUSIVEKristian is an editorial intern for TODAY.com.
Weiterlesen »
Editorial: ShotSpotter disaster only the latest example of mayoral incompetenceIt’s been nine months since Brandon Johnson became mayor of Chicago. It only seems far longer. Spirited debates over policies, though, are part of the normal back-and-forth of political life. Our b…
Weiterlesen »
‘He must do better’: NYT’s editorial board warns Biden campaign on age issue“His assurances, in other words, didn’t work,” the editorial said of Biden’s contentious news conference.
Weiterlesen »
A Chicago pizza institution has been named the nation's best, and loyal fans aren't surprisedPretty much everyone knows Chicagoans are serious about their pizza. So it might not be a surprise that a Chicago pizza establishment – a longstanding…
Weiterlesen »