Sources say Mayor Brandon Johnson will announce a property tax hike during his budget address Wednesday morning.
Tuesday, October 29, 2024 10:48AMChicago Mayor Brandon Johnson will announce a property tax increase during his budget address Wednesday, sources say.Mayor Brandon Johnson will propose a property tax hike when he lays out his budget plan to City Council Wednesday, sources say.
Mayor Johnson did promise not to raise property taxes during his campaign. The city has been under a hiring freeze to address the nearly$1 billion budget shortfall.According to City Hall sources, the mayor has briefed some aldermen that in his budget address, he will be proposing a property tax hike as a way to bridge the gap.
during an interview with ABC7's Mark Rivera earlier this month, mayor Johnson suggested property tax hikes could be needed. "I don't want cuts, I don't want layoffs," Mayor Johnson said. "I saved the taxpayers over $200 million in last year's budget. But the harsh reality is this: our expenses have outpaced our revenue."It recommended increasing the city's liquor tax, implementing a one-percent tax on groceries, adding video gaming or hiking the fee for garbage collection to help close the deficit.The mayor's budget address will be followed by two weeks of budget hearings.
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