After nearly a week of counting the results of the March 19 election, the Chicago Board of Elections has certified that voters in the city have rejected Mayor Brandon Johnson's plan to raise one-time real estate transfer taxes on transactions above $1M.
About 53% of these who voted rejected the measure, which was known as "Bring Chicago Home."
Under Johnson's plan, the tax for transactions of more than $1M would have been increased incrementally, with properties between $1M and $1.5M incurring a tax increase of $10 per every $500, and properties valued at more than $1.5M facing charges of $15 for every $500.
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