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Johnson's plan to combat homelessness

It's laudable to try to fix homelessness. Sadly continuing to raise taxes will drive more businesses and investment out of the City. How about having a border so we're not importing migrants? The cost of those migrants in City services is estimated by most news services to be between $200 and $300 million*, far more than the new tax.


*Depending on who's numbers you use that represents between 33% and 60% of the current Chicago city budget deficit which stands at approx $570 million up from $70 a year ago under Lightfoot.

Johnson's plan to combat homelessness

Axios News

Mayor Brandon Johnson introduced much-awaited legislation yesterday that would

increase the real estate transfer tax for properties sold for more than $1 million to raise funds for homeless services.

Why it matters: Advocates say the proposal, known as Bring Chicago Home, could potentially raise $160 million annually to address homelessness with new permanent housing and wraparound services, including mental health and substance use counseling.

How it works: The proposed ordinance would significantly raise real estate transfer taxes — paid by property sellers — for buildings sold for more than $1 million, while slashing them for properties that sell for less than that by 20%, advocates say.

  • Buildings that sell for between $1 million and $1.5 million would see taxes rise by nearly 167% but just on the portion over $1 million.

  • Properties that sell for more than $1.5 million would see taxes spike by 300%, applied only on the portion above $1.5 million.

By the numbers: Homeless advocates say 68,000 people in the city are experiencing homelessness.

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