Homeless in Illinois: Chicago Voters Reject “Mansion Tax” Proposal
Homeless in Illinois: Rejected Proposal of The “Bring Chicago Home” (PHOTO: WICS)
Impact on Chicago’s Homeless Assistance Programs
CHICAGO (AP) — A one-time real estate tax on homes valued at more than $1 million was rejected by Chicago voters in order to fund homeless in Illinois programs.
Brandon Johnson, the first-term mayor of Chicago who supported the “mansion tax,” has lost his election. The real estate transfer tax in the city would have been gradually increased by the proposal for properties worth more than $1 million. Advocates calculated that it would have brought in $100 million a year for assistance for the homeless, including mental health treatment. On any given night, there are about 68,000 homeless persons in Chicago.
The proposal also suggested reducing the transfer tax on homes under $1 million, which account for the great majority of home sales in the third-largest city in the country.
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Legal Challenges and Opposition Arguments
Real estate associations among the opponents claimed the tax unfairly singles out businesses and commercial properties at a time when downtown is still recovering from the COVID-19 outbreak. Their constitutional challenge against the measure was first successful, but an appeals court reversed it. Their request for an appeal was denied by the Illinois Supreme Court.
Voters in cities like Santa Fe, New Mexico, and Los Angeles have endorsed similar propositions.
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