From the Editorial Board: This cash grab has, of course, been given a clever title, “Bring Chicago Home,” and a cause that is intended to make it hard for people to object: the alleviation of homelessness.
A 3,158-square-foot home in Chicago’s Lincoln Square neighborhood listed on Realtor.com, shown July 20, 2023, would be subject to Mayor Brandon Johnson’s proposed new"mansion tax."
As of Wednesday, that 3,158-square-foot property was listed for $1.05 million on Realtor.com which puts it in the crosshairs of Mayor Brandon Johnson’s proposed new “mansion tax,” even though describing this sweet but quotidian home as a mansion is patently absurd.The tax increase came up during Johnson’s campaign. The idea is to massively increase the city transfer tax on homes with a purchase price of more than $1 million. The proposal would triple Chicago’s real estate transfer tax to 2.
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