The Chicago City Council on Thursday rejected Mayor Brandon Johnson’s plan to raise property taxes by $300 million that would have helped close a budget gap of nearly $1 billion for next year.
All 50 aldermen voted against the hike after protesting the mayor’s proposal to levy a higher property tax on residents at a time when their bills are already expected to jump with rising home valuations.
The result means the mayor must find other ways to balance the budget. Some aldermen said any amount of property-tax increase is a non-starter but others are open to a smaller hike so services don’t get cut.
“I will negotiate the details of this budget, but I will not negotiate my values” Johnson said during a press conference Thursday. “I look forward to engaging with City Council.”
It’s the latest sign of friction that is contributing to delays to pass a balanced budget by Dec. 31. The second budget of Johnson’s first term has been marked by disagreements over how to make cuts that don’t erode services and where to look for more revenue.
The $17.3 billion total budget plan includes the $5.6 billion corporate fund — the city’s main operating account used to pay for public safety and other services. Johnson needs to close a $982 million gap in that account.
