In the wake of the rejection of the Bring Chicago Home property tax plan by voters, Chicago city leaders, led by Alderman Will Hall, are exploring alternative methods to increase city revenue.
According to the Chicago Tribune, Alderman Hall, who heads the new Subcommittee on Revenue, convened with other city leaders on Wednesday to discuss potential revenue-raising ideas. Among the proposals being considered are the legalization and taxation of video poker, the implementation of a tax on professional services, and the placement of billboards along the Riverwalk.
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To gather input from all 50 aldermen, Alderman Hall distributed a survey featuring 16 different tax ideas, including a sales tax on services, property tax hikes, and a congestion tax for busy downtown roads. He emphasized the importance of soliciting and considering all perspectives before making any decisions, even if certain ideas may not be popular.
Despite potential controversies, Alderman Hall stressed the necessity of open and fair discussions about all available options. Meanwhile, Mayor Brandon Johnson has expressed support for these new tax proposals, describing them as a sensible approach to generating additional revenue without overly burdening residents. Mayor Johnson’s previous plan to raise $100 million annually for homelessness services through real estate taxes was rebuffed by voters, highlighting the challenges of garnering public support for new taxes. Given the setbacks in the Bally’s Casino project, finding alternative revenue sources has become even more imperative, prompting city leaders to explore various avenues to address Chicago’s financial needs.
