Chicago voters reject ‘mansion tax’ to fund homeless services during Illinois primary

CHICAGO (AP) — Chicago voters have rejected a real estate tax on properties over $1 million to pay for services for homeless people. It’s a loss for first-term Chicago Mayor Brandon Johnson. The so-called “mansion tax” would have incrementally raised Chicago’s real estate transfer tax on properties valued at more than $1 million. Supporters estimated the one-time tax would have generated $100 million annually for homeless services. The measure also would have lowered the transfer tax on properties under $1 million. That represents most home sales in the nation’s third-largest city. Opponents say the tax unfairly targeted commercial properties.