Appeal to nullify results of ‘Bring Chicago Home' referendum denied by Illinois Supreme Court

An appeal from the Building Owners and Managers Association to nullify the results of a controversial real estate tax referendum on Chicago's 2024 primary ballot was rejected by the Illinois Supreme Court on Wednesday, confirming that votes on the measure will be counted.to pause the counting of the votes, saying the initiative improperly asked voters to decide on three separate issues pertaining to the tax, rather than one question being posed to voters.

Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyIn reaction to the the decision, the Building Owners and Managers Association issued a statement expressing their disappointment over the ruling while adding that they encourage voters to vote"no" on the referendum.While we are disappointed by the case outcome, it was important to contest this misleading and manipulative referendum question.

Their ruling is that the referendum was approved as part of Chicago's legislative process, with home-rule units required to approve changes to transfer taxes via a public vote. Lawyers for the Board of Elections and the city of Chicago immediately appealed the ruling, questioning the reasoning behind it."Like the parties, we are left guessing as to the bases for the circuit court's ruling because the lower court gave no reasons for its ruling," the ruling read.

An increased rate would then be applied to the property value between $1 million and $1.5 million, with those funds taxed at a rate of $10 for every $500 in purchase price. That would represent an increase of 233% over the current rate. Under the provisions of the transfer tax, these rates would be paid by the buyer of the real estate, unless the buyer is exempt from the tax under state law. Specific circumstances in which a buyer would be exempt can be found via theSupporters of the ordinance say that the tax would generate $100 million annually.

Source: Law Daily Report (lawdailyreport.net)

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