"Chicago Mayor's 'Mansion Tax' Struck Down by Judge"

1 min read
Source: Fortune
"Chicago Mayor's 'Mansion Tax' Struck Down by Judge"
Photo: Fortune
TL;DR Summary

Chicago Mayor Brandon Johnson's plan to increase taxes on real estate transactions over $1 million was struck down by a local court after a legal challenge from the Building Owners and Managers Association. The association argued that the referendum question on the "mansion tax" was misleading and unconstitutional. Johnson, a progressive Democrat, had proposed the tax increase to tackle homelessness and redistribute the tax burden. The referendum question will remain on the ballot, but results won't be counted or released, and the city is evaluating its options on whether to appeal the decision.

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