Chicago voters were rejecting the referendum dubbed “Bring Chicago Home,” with 54% voting “no” to 46% “yes” with 98% of precincts reporting.
While 98% of precincts had reported, The Associated Press was estimating only 82% of the vote had been counted with another two weeks during which mail-in ballots could be received. Still, the Bring Chicago Home coalition was conceding the election.
The referendum would have given Chicago Mayor Brandon Johnson and the city council voter approval to raise the real estate transfer tax on properties worth more than $1 million. Johnson predicted it would give him $100 million a year in revenue.
What was the plan?
Chicago charges 0.75% on the sale of all property. The plan would have: