A new proposal would increase the city’s real estate transfer tax, a one-time tax paid when a property is sold, by nearly 2% on properties over $1 million. An advocacy organization says the move would impact about 4% of properties sold and would generate $163 million dollars to find permanent affordable housing with services.
Advocates with the Bring Chicago Home Coalition protested outside the offices of City Council members Jason Ervin (28th) and Scott Waguespack (32nd) this week to push for their support to add a question on the November ballot asking voters to create a dedicated revenue stream to house people experiencing homelessness.
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