Despite campaign promise, Mayor Johnson set to propose property tax hike amid $1B budget shortfall
Chicago Mayor Brandon Johnson campaigned on a promise he wouldn’t raise property taxes, but 18 months in office and a $1 billion budget hole later, he’s expected to propose a hike. Johnson is set to call for a hike during Wednesday’s City Council meeting, though details surrounding how much it will be remain to be seen. With the city facing a massive budget shortfall for fiscal year 2025, it’s not clear if Johnson will be able to garner enough support to push such a measure through, however. In order for such a proposal to pass, 26 aldermen have to agree. And getting to that number won’t be easy, as many reluctantly await details of Johnson’s plan. According to Joe Ferguson with the Civic Federation, the city could look at other alternatives, such as layoffs or furloughs, vacancy elimination or raising garbage collection fees. While Johnson did announce a hiring freeze last month, labor unions, which helped get Johnson elected, have pushed back against extensive cutbacks. According to estimates, the city’s projected budget deficit for FY 2024 will clock in at approximately $222.9 million, which is still below previous estimates from earlier in the fiscal year. With the expiration of COVID assistance and other factors taken into account, the budget deficit for FY 2025 is estimated to be $982.4 million, according to city Budget Director Annette Guzman’s office. The Chicago City Council still needs to vote on a new budget for the coming fiscal year, but Johnson has told reporters he was willing to consider a variety of options to help close the gap. NBC 5 Investigates Oct 10 Chicago spent more than $80K to renovate, furnish office for First Lady Johnson Chicago City Council Sep 11 How far-reaching is Chicago's hiring freeze amid budget mess?
Chicago Mayor Brandon Johnson campaigned on a promise he wouldn’t raise property taxes, but 18 months in office and a $1 billion budget hole later, he’s expected to propose a hike.
Johnson is set to call for a hike during Wednesday’s City Council meeting, though details surrounding how much it will be remain to be seen.
With the city facing a massive budget shortfall for fiscal year 2025, it’s not clear if Johnson will be able to garner enough support to push such a measure through, however.
In order for such a proposal to pass, 26 aldermen have to agree. And getting to that number won’t be easy, as many reluctantly await details of Johnson’s plan.
According to Joe Ferguson with the Civic Federation, the city could look at other alternatives, such as layoffs or furloughs, vacancy elimination or raising garbage collection fees.
While Johnson did announce a hiring freeze last month, labor unions, which helped get Johnson elected, have pushed back against extensive cutbacks.
According to estimates, the city’s projected budget deficit for FY 2024 will clock in at approximately $222.9 million, which is still below previous estimates from earlier in the fiscal year.
With the expiration of COVID assistance and other factors taken into account, the budget deficit for FY 2025 is estimated to be $982.4 million, according to city Budget Director Annette Guzman’s office.
The Chicago City Council still needs to vote on a new budget for the coming fiscal year, but Johnson has told reporters he was willing to consider a variety of options to help close the gap.
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