After the rejection of the Bring Chicago Home property tax plan, Chicago city leaders led by Alderman Will Hall are exploring various new taxes and fees to raise city revenue including legalizing and taxing video poker adding a professional services levy, and placing billboards on the Riverwalk.
Chicago Aldermen Explore New Tax Ideas After Rejecting Property Tax Plan
According to the Chicago Tribune, after Chicago voters rejected the Bring Chicago Home property tax plan, city leaders are exploring alternative ways to generate revenue. Alderman Will Hall, who leads the new Subcommittee on Revenue, had his first meeting with other city leaders this Wednesday. He’s seeking ideas on how to raise funds, such as considering the legalization and taxation of video poker, introducing a tax on professional services, and placing billboards along the Riverwalk.
Alderman Will Hall sent out a survey to all 50 aldermen asking them to say yes or no to 16 different tax ideas, such as a sales tax on services, property tax increases, and a congestion tax for busy downtown roads. He wants to make sure everyone’s ideas are heard before making any decisions. Even though some of these ideas might be unpopular, Alderman Will Hall believes it’s important to talk about all options openly and fairly.
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Chicago’s $100M Revenue Revamp: Alderman Will Hall’s New Plan to Tax Video Poker, Services, and More (PHOTO: Block Club Chicago)
Mayor Johnson Backs New Tax Proposals to Fund Chicago Amid Casino Project Delays
Mayor Brandon Johnson supports this effort, saying it’s a smart way to find new money without putting too much pressure on everyday people. Johnson’s earlier plan to raise $100 million a year for homelessness services through real estate taxes was turned down by voters, showing how hard it can be to get public support for new taxes. With delays in the Bally’s Casino project, finding new sources of money is even more important, so city leaders are looking at many different ways to fund Chicago’s needs.
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