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Property Transfer Tax Referendum

Don’t let them confuse you.

A transfer tax is a property tax that will hurt homeowners, renters and small businesses.

Transfer Tax = Property Tax

On March 19 Voters will be asked to vote for a huge New Property Tax increase on Housing.

The Property Transfer Tax ballot referendum proposes a 20% reduction for some property owners to distract from the 167% and 300% increase in property transfer taxes for all other property owners.

With no plan for how to spend this New Property Tax, they’ll be coming after your house next. They’ll soon target middle class bungalows, ranch houses and typical 2-bedroom condos with a new tax on property. This New Property Tax will eventually hit everyone.

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We Can’t Trust Them

How do we know that? The math doesn’t add up: Chicago spent $622,000 (median) per unit to build affordable housing in 2023. Chicago is short 120,000 affordable housing units, according to a study last year by DePaul University. The New Property Tax will only pay for 160 units a year. City officials will need more tax money. A lot more. Revenue generated from this New Property Tax will not prioritize the thousands of long-term homeless Chicagoans living on the streets or in shelters. Instead, this tax increase attempts to provide “services” (NOT housing) for an additional 60,000 Chicagoans who COULD experience future instability.

How This Impacts You

We’ve been sold this story before, but with vacant lots and empty boarded up housing across Chicago, they’ve proven they can’t get the job done.

The City will need to raise even more money and their New Property Tax will apply to your house, too. Middle class homeowners’ bungalows, ranch houses, and typical, two-bedroom condos will be the target of the New Property Tax.

They’re sitting on nearly $40 million of unspent federal dollars to build housing now. Just a few months ago they found hundreds of millions of dollars to house migrants. Soon their new property tax will hit middle class homeowners, renters and small businesses.

Broken Promises = New Property Taxes

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Stop the New Property Tax on March 19th

We Can’t Trust Them

After years of mismanagement and nearly $40 million in unspent federal housing dollars, the city is now imposing a New Property Tax on homes and apartments. Just a few months ago they found hundreds of millions to house migrants.

The City wants another blank check:

To build all the affordable housing they’re promising, the city will need to expand their New Property Tax on middle class families. Homeowners and renters. The New Property tax will be passed down to everyone.

This New Property Tax will hurt middle class families and homeowners

Combined with high interest rates and rising property taxes it will cause rent to go up and make housing more expensive. Middle class bungalows, 2-bedroom condos, ranch houses and duplexes. We will all be impacted.

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