Chicago Mayor Brandon Johnson is set to deliver his 2025 budget address during a City Council meeting on Wednesday, and it is expected that he will propose a property tax increase. This comes as a surprise to many, as Johnson had promised not to raise taxes during his campaign. The address will be streamed live by NBC Chicago at 10 a.m. on Wednesday.
The city of Chicago is facing a budget shortfall of nearly $1 billion for fiscal year 2025, and details of the proposed tax increase are yet to be revealed. It remains to be seen if Johnson will be able to garner enough support to push this measure through.
In order for the proposal to pass, Johnson needs to secure 26 votes by December 31st. However, as of now, 14 aldermen have signed a letter to Johnson expressing their concerns and stating that they will not support a budget that includes a tax hike.
“We cannot support a budget that includes a property tax increase,” the letter read. “The recently released poll shows that 90% of Chicagoans oppose increasing property taxes as a means of raising revenue. Of those 90%, 79% strongly oppose the idea. This is a non-starter for us and our constituents.”
The letter also outlined their support for a renewed ShotSpotter contract, finalizing a contract for Chicago firefighters, and maintaining the police budget. The Civic Federation, a non-partisan government research group, has suggested that the city explore other alternatives such as layoffs, furloughs, eliminating job vacancies, or raising trash collection fees before considering a property tax hike.
While Johnson did announce a hiring freeze last month, labor unions, which played a significant role in his election, have pushed back against extensive cutbacks. According to estimates, the city’s projected budget deficit for fiscal year 2024 is approximately $222.9 million, which is lower than previous estimates. However, with the expiration of COVID assistance and other factors, the budget deficit for fiscal year 2025 is estimated to be $982.4 million, according to the city’s Budget Director Annette Guzman.
The Chicago City Council still needs to vote on a new budget for the coming fiscal year, and Johnson has stated that he is open to considering various options to help close the gap. Budget hearings are set to begin next week, according to the city.
In conclusion, while the proposed property tax increase may not be a popular decision, it is a necessary step to address the city’s budget shortfall. Mayor Johnson and the City Council must work together to find a solution that is fair and equitable for all Chicagoans. It is a challenging task, but with careful consideration and collaboration, we can overcome this hurdle and continue to move forward as a city. Let us hope that the upcoming budget hearings will bring about positive and effective solutions for the betterment of Chicago.
