Johnson Takes Property Tax Hike Off the Table as City Council Tightens Borrowing Rules 32-15

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CHICAGO (CHICAGO URBAN DAILY)— The City Hall budget war just escalated on both fronts.

Mayor Brandon Johnson said Tuesday he will not propose a property tax increase in his 2027 budget, answering the Budget Accountability Coalition — the 29-alderman bloc that sent him a letter Monday drawing three hard lines: no property tax hike, no corporate head tax or any tax on job growth, and no reliance on state money that hasn’t been approved yet.

Johnson said he welcomes engagement “in good faith” but wants to see concrete solutions, not just a list of what the council won’t do. He didn’t close the door on taxing corporations more, even after the council rejected his per-employee head tax in this year’s budget fight.

Meanwhile, the City Council took direct aim at the city’s credit card. Aldermen voted 32-15 to require 30 votes — up from 26 — for future borrowing, a move backers say will curb the city’s reliance on one-time debt fixes. Three votes short of a veto-proof majority.

The fight centers on a projected $882.4 million deficit for fiscal 2027 — smaller than last year’s roughly $1.2 billion hole, but still one of the largest gaps in Chicago’s recent history. Johnson is expected to deliver his budget address in mid-October, followed by departmental hearings ahead of the December 30 deadline.

Stay tuned to Chicago Urban Daily as this budget battle plays out. Reported by Chicago Urban Daily News. Visit chicagourbandailynews.com for updates.

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