Resolution R2023-0004166
Approved
Submission of public question by referendum to Chicago voters for increase in Chicago real estate transfer tax rates
Auto-generated summary
Mayor Brandon Johnson and Aldermen Hadden, Ramirez-Rosa, and Martin propose a resolution to Chicago's Council to revise the city's real estate transfer tax. The proposal includes a decrease to $3 per $500 of transfer price under $1M, an increase to $10 for prices between $1M-$1.5M, and an increase to $15 for prices over $1.5M. The CTA portion remains unchanged. Additional revenue will combat homelessness and provide housing services. The referendum is on March 19, 2024.
