(The Center Square) – The Chicago city council has begun to discuss Mayor Brandon Johnson’s “Bring Chicago Home” tax that, if approved by voters, requires those in Chicago who own a home or corporate building valued at or above $1 million to pay extra transfer taxes.
The proposal has a progressive three-tier structure, with different effective tax rates for property values under $1 million, between $1 million and $1.5 million and more than $1.5 million. Proponents say the measure would create permanent supportive housing for those who need it most.
A city council committee heard arguments for and against the proposal this week.
Ted Dabrowski of Wirepoints said the proposal runs a risk.
“Hiking this so-called mansion tax will create even more risk,” Dabrowski told The Center Square. “Chicago already hits its businesses with the highest property taxes in the country.”
Johnson has said the plan will be used as a tool to combat homelessness. Dabrowski said if enacted, those issues will increase, particularly with apartment complexes.
“The real risk is that you put more taxes and fees onto these commercial properties, and you can make a real mess out of Chicago,” Dabrowkski said. “That can lead to more poverty and more homelessness.”
Dabrowski went on to say that those in support of the referendum are going against their civic duties.
“These people who are fighting for Bring Chicago Home should be really worried about what it does to the very people they say they are protecting,” Dabrowski said.
The proposed “mansion tax” will still need to be approved by the Chicago city council before going in front of voters.
